Sky Sports has bagged exclusive rights to broadcast Formula 1 races between 2019 and 2024.
The provider will offer live coverage of every Grand Prix, while the British Grand Prix will be available for free, along with highlights of qualifying and races.
Furthermore, at least two other prime time live races will be transmitted on Sky Sports Mix every season
Sky Sports F1 will also be showing 21 races live during 2016 and has kicked off its coverage with the Formula 1 Rolex Australian Grand Prix.
Barney Francis, Managing Director of Sky Sports, said: "This is a brilliant deal that takes Sky’s partnership with F1 to the next level.
"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. "
The agreement has been hailed by Bernie Ecclestone, Chief Executive of the Formula One Group, who said Sky's commitment to the sport and its standard of coverage is "second to none".
Martin Brundle, a Commentator at Sky Sports F1, added that he joined Sky Sports because he wanted to be part of a dedicated F1 channel that had a complete and long-term commitment to the sport.
He said Sky has "certainly delivered" in that regard and predicted that as the media landscape continues to evolve, its coverage will only get even better for F1 fans.