In not killing Javert, Jean Valjean continues his spiritual transformation. Since his experience with guilt and regret, Valjean had spiritually evolved into a higher form of being in the world. This condition had been brought on by a universal understanding of love and compassion. The same traits that the Bishop showed to Valjean in his redemption are the qualities that he emanates to the world. These qualities drive him to take care of others such as Cosette and Marius, embrace philanthropy, and seek to make the world better than what it is. These traits also enable him to refrain from killing Javert.
Valjean does not kill Javert because of the promise and hope that is within his spirit. Valjean realizes that if he wishes to break the cycle of being trapped in the moral abyss of the world around him, he has to act in a manner that is transcendent from it. In this, he does not kill Javert, but rather allows him to be free. Valjean gives life, as opposed to taking it. The ability and desire to transform what life should be as opposed to what it is defines Valjean, and is the motivating factor behind why he does not kill Javert at the moment when he could have done so.