The Italian Grand Prix at Monza will remain on Formula 1's calendar until at least 2024 confirmed on Wednesday ACI president Angelo Sticchi Damiani.
The event had been listed as "being finalized" on the sport's 22-race calendar released by Liberty Media last week.
Sticchi Damaiani first shared the good news with the thousands of fans attending this afternoon's Ferrari event on the Piazza Duoma in Milan dedicated to the 90th anniversary of the legendary manufacturer.
"It is just like winning a Formula 1 Grand Prix, a very hard and important one, fought to the finish line - which counts as not one but five titles," said the president of the Italian automobile Club.
"It was a challenging journey to get to this outcome and is one of those race victories that makes us forget every risk, every effort, and leaves inside a great joy and an uncontrollable desire to celebrate."
F1 CEO Chase Carey said: "This is one of four Grands Prix that were part of the 1950 championship and still features in the calendar and along with the British Grand Prix, it is the only one to have been held every year since then.
"History, speed and passion are words that motorsport fans associate with Monza. The feeling one gets at this Grand Prix is truly unique, as is the circuit's distinctive podium.
"I would like to thank the ACI, especially its President, Angelo Sticchi Damiani for its efforts and this five year deal means that another part of the jigsaw for the Formula 1 of the future, is now in place.
"The championship features many historic venues such as Monza and also new countries in which the already vast fan-base of our sport can grow."