The BBC will share coverage of the final two rounds but retains UK radio and online rights.The BBC's last three-year deal with Augusta expired in April this year.
Senior BBC insiders warned last week it could be forced to withdraw from the bidding for some sporting events after the BBC Trust said it would freeze the licence fee for up to two years.
"The BBC is very proud we have broadcast the Masters every year since 1986 and we are delighted that this new deal enables us to continue this relationship," said the BBC's director of sport Barbara Slater. "It means terrestrial audiences can continue to enjoy live coverage of the concluding rounds of this hugely prestigious tournament on BBC TV, alongside our comprehensive coverage on radio and online."
Sky plans to show next year's Masters in 3D. Sky Sports will launch its 3D channel on 1 October with coverage of golf's Ryder Cup
