The new deal - terms of which were not disclosed - includes extensive marketing activities for both brands, including advertising, promotions, appearances and other initiatives.
Said Jeff Dunn, president, Coca-Cola North America: "LeBron James has brought more excitement and anticipation to the game of basketball than any player in recent history, and we think he's just getting started."
Added Aaron Goodwin, James' agent: "We were looking for a beverage partner that shared our belief in LeBron, one that would build a real relationship with us, and one that had a history of superior marketing and brand building.
"With that in mind, the choice was simple - the Coca-Cola Company and the Sprite and Powerade brands. We believe Sprite and Powerade's marketing programmes around LeBron will be groundbreaking."
