The LG Electronics Tour will comprise seven events - the LG Cup, British Open, Travis Perkins UK Championship, Welsh Open, European Open, Irish Masters and Players Championship.
The total prize fund for the seven events will be £3.5million.
Stated Jay Lim, managing director of LG Electronics UK Ltd: "We are thrilled to have this opportunity. The LG Electronics Tour will provide us with a more consistent level of exposure across the year and geographically across the UK.
"We have been delighted with the results achieved through our sponsorship of the LG Cup. Snooker has proved to be a very effective vehicle for the promotion of the LG brand and product range. The size and diversity of the snooker audience perfectly compliments LG's brand marketing activities."
World Snooker, the sport's governing body, has unveiled LG Electronics as the title sponsor of the new premier series circuit.
