Barcelona's Circuit de Catalunya will stage the Spanish Grand Prix until 2016 after a new deal was agreed with Formula One chief Bernie Ecclestone.
The circuit stages this weekend's Spanish Grand Prix
Ecclestone signed a five-year contract extension to the current deal which was due to expire in 2011.
"I am obviously very happy we have reached a conclusion and we are on good terms again," said Ecclestone.
Earlier this week Ecclestone agreed deals for Valencia and Singapore to stage a Grand Prix from next year.
And he added: "At one stage we were a bit concerned that we wouldn't be able to reach an agreement.
"Frankly, when you talk about signing contracts, with the people we've got here, there's no need for a contract.
"When you say 'yes' and shake hands, that's enough for me. But anyway, we have signed a contract."
Josep-Lluis Carod-Rovira, the vice-president of the Catalan government, said: "This agreement has three important consequences.
"The first is that it turns the Circuit de Catalunya into one of the main international references for Formula One, and in terms of the quality and prestige it can provide.
"Secondly, it places Catalunya on the world map of quality sports, and thirdly it has an international and economic impact on this whole area."