Sky's current F1 contract, which was agreed with the sport's former ringmaster Bernie Ecclestone, was up for renewal in two years.
But an extension between Sky and F1's American owners' Liberty Media has been signed off, with confirmation of the new deal made public ahead of this weekend's Singapore Grand Prix.
"We are incredibly proud of our long-term partnership with Sky, and we are delighted to announce that we will continue working together until 2029, a very important commitment from Sky," said F1 CEO Stefano Domenicali.
"Since the beginning of our relationship in 2012 we have both strived to bring the excitement, emotion, and drama of Formula One to our traditional fans while engaging new and more diverse audiences.
"Formula One has seen huge growth in recent years and I can't think of a better partner to continue to reach our fans with dedicated, expert and in-depth coverage.
"Sky not only brings fans live coverage but a range of behind-the-scenes access and content that brings F1 to life. We are hugely excited about the future of the partnership and the journey of Formula One."
F1 is the second most-watched sport on Sky, behind football, with an average viewership of 1.7 million this season - a 60 per cent rise since the broadcaster's exclusive contract began in 2019.