The Villans owner hopes the Bulgarian will help the club in "other, better ways" after he failed to earn a playing contract.
New Villa owner Xia
Manager Roberto di Matteo confirmed on Wednesday that Petrov, who joined the Villans for pre-season training and appeared in recent friendly matches, will not return to Villa Park in a playing capacity (BBC).
The Bulgarian spent seven seasons a Villa player, but retired from football in 2013 after being diagnosed with an acute form of leukaemia a year earlier.
Petrov pictured during his recovery
Now back to full health following a lengthy battle, Petrov could yet help the club in what Xia describes as "other, better ways".
"I admired and appreciated what Petrov did," wrote the Chinese billionaire. "We'd also respect professional judgement.
"Di Matteo and I hope Petrov will help the club in other, better ways!"
I admired & appreciated what Petrov did. We'd also respect professional judgment.RDM&I hope Petrov will help the club in other better ways!— Dr. Tony Xia (@Dr_TonyXia) 20 July 2016
Xia completed his reported £76 million takeover of Villa earlier this summer and his frequent social media interactions seem to be going down well with those of a claret and blue persuasion.
One Twitter user, Dave Vickers, replied: "Thank you for interacting with the fans Tony, it's fantastic after years and years from Randy (Lerner, Xia's predecessor)".
@Dr_TonyXia and thank you for interacting with the fans Tony, it's fantastic after years and years of silence from Randy— Dave Vickers (@Dave_Vickers) 20 July 2016
Villa are looking to bounce back from last season's relegation at the very first attempt and have added a trio of signings as well as hiring Di Matteo as successor to Remi Garde.
New Villa boss Di Matteo
Goalkeeper Pierluigi Gollini, centre-back Tommy Elphick and midfielder Aaron Tshibola have all arrived at Villa Park so far, with a striker next on the Villans' list.
Former Bournemouth skipper Elphick is one of three new recruits