The deal includes over 30 meetings a year from domestic speedway's premium competition, the Elite League.
Announcing the deal, Sue Ashworth, Sky Sports’ Manager of Production and Commercial Development said: "Speedway has proved a popular part of our summer portfolio on Sky Sports.
"We're delighted to continue the association for the next five years."
Terry Russell, President of the BSPA said: "Sky Sports has helped raise the bar with their professionalism and I hope that speedway continues to appeal to television."
Speedway coverage is presented by Jonathan Green with Sophie Blake and Kelvin Tatum.
This season, Sky Sports' Elite League coverage begins with newcomers Reading Bulldogs against champions Coventry Bees on 20 March (7.30pm Sky Sports 2).
Sky Sports also screen the Elite League Riders Championship, Elite League Pairs and selected international matches.
All 10 rounds of the extended Grand Prix series will be exclusively live - in addition to the Speedway World Cup.
