British Gas marketing director Rick Vlemmiks added: "We are proud to be working together to get more people in Britain reaching their potential in the pool.
"Our role is to nurture swimming across the board. This means nurturing the talent of Britain's brightest hopes for London 2012 and beyond, but also with many pools under threat of closure, working hard to help pools stay open."
British swimming announces new sponsorship deal
The sponsorship deal will also take in the Commonwealth Games in New Delhi next year and 2014 in Glasgow.
The deal comes on the back of the news that British Swimming's partnership with Speedo will continue until 2016.
"We are very pleased to be continuing our relationship with Speedo," Sparkes said. "It is crucial to the future of swimming that British Swimming associates itself with a brand which is so devoted to the sport and to its athletes."
Olympic swimming will receive £37m in Lottery investment from UK Sport in the run up to 2012, up from the £31.1m prior to the Beijing Olympics.
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