Sky Sports will be the "home of Formula 1 in the UK and Ireland from 2019 to 2024", taking the sport off free-to-air channels except for the British GP.
At present Sky show all the grands prix live while Channel 4, who took over from the BBC at the start of this season, will show 10 live races.
However in 2019 that will all change.
Sky have announced that they will exclusively show all the races while the British GP, together with highlights of all other races and qualifying sessions, will be shown on a 'free-to-air' basis.
"I am delighted that we will continue to work together. Sky’s commitment to the Sport and standard of coverage is second to none," said F1 supremo Bernie Ecclestone.
Sky Sports' managing director Barney Francis welcomed the new exclusive deal.
"This is a brilliant deal that takes Sky’s partnership with F1 to the next level," he said. " Since 2012, we have demonstrated unrivalled commitment to F1, offering fans innovations including a dedicated channel and the very best broadcasting talent.
"We are delighted that we are strengthening our coverage for viewers even further, with live and exclusive F1 from 2019 and the chance to watch in Ultra High Definition for the first time from next season.
"We are pleased to support F1 and look forward to working with them to progress, develop and enhance coverage of the Championship during the agreement."