Sky Sports will be the exclusive home to Formula One from 2019 onwards.
Sky has inked a five-year deal that will see it cover the sport exclusively until 2024.
At the moment, Sky shares F1 coverage with Channel 4.
Under the terms of the deal, Sky will show live coverage of every Grand Prix. The British Grand Prix, plus highlights of other races and qualifying sessions will all be shown on a free-to-air basis.
Plus, at least two other prime time live races a season will be shown on free channel Sky Sports Mix.
Starting in 2017, every race will be broadcast in UHD (aka 4K) via Sky Q, Sky's next-gen set-top box.
Bernie Ecclestone, CEO Formula One Group, said in a statement: "I am delighted that we will continue to work together. Sky's commitment to the sport and standard of coverage is second to none."
Barney Francis, managing director of Sky Sports, added that it was a "brilliant" deal. "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," he said.