The 2015 Betway UK Championship will run from November 24 to December 6 at the York Barbican.
The tournament is one of snooker's Triple Crown events and has a history stretching back to 1977, with so many of the sport's great names engraved on the coveted trophy. Last year, Ronnie O'Sullivan won the title for the fifth time, beating Judd Trump 10-9 in an epic final.
World Snooker Chairman Barry Hearn said: "We are thrilled to welcome Betway on board for what is truly one of the crown jewels of the snooker calendar. Betway recently sponsored the Shoot-Out and World Seniors Championship so they are aware of the incredible exposure they can expect through our sport.
"The Betway UK Championship will be watched by many millions of people across the planet as the very best players compete for one of the most prestigious titles. The final between O'Sullivan and Trump was an all-time classic.
"We have hosted this event at the York Barbican each year since 2011 and the venue has been a great success, with ticket sales up 20 per cent last year, and we look forward to seeing record crowds again this time."
Betway's CEO Richard Akitt said: "Betway is delighted to confirm our commitment to snooker fans everywhere by extending our presence in the sport in sponsoring such a prestigious tournament.
"Snooker is a sport which is going places with worldwide viewing figures increasing year-on-year and it's fantastic for us to be associated with the game as it breaks new ground."
Tickets for the 2015 tournament will go on sale soon - keep an eye on www.worldsnooker.com for details.
Ball by ball scoring and results from tournaments