The new agreement, which will deliver increased revenue to League clubs, will begin in August 2016 and run until at least 2019, with the title sponsorship once again becoming a standalone arrangement.
Following the recently announced re-branding of The Football League to the EFL, the competition will become known as the Sky Bet EFL with its three divisions continuing to be known as the Sky Bet Championship, Sky Bet League One and Sky Bet League Two. Sky Bet will also be the title sponsor of the Sky Bet Play-Offs.
Football League Chief Executive, Shaun Harvey said: "At a time when The Football League is very much focused on its future, which includes our imminent re-branding to the EFL, it is a great encouragement to see Sky Bet putting their continued faith in our competition and our clubs.
"This is an excellent way to end an outstanding year of league football and, on behalf of clubs, I would like to offer my appreciation to Sky Bet for their continued commitment."
Sky Bet Chief Executive, Richard Flint said: “Over the last couple of seasons we’ve loved working with the League, its clubs and the fans and so are delighted to extend Sky Bet’s sponsorship. We are proud to continue our investment in such a fantastic competition and look forward to making betting better for football fans.”
To celebrate signing the deal, Sky Bet are offering the best odds on all Football League clubs to win their Boxing Day fixtures, and are also top price on a wide range of Football League outrights over the Christmas period.
The League has also revealed the new EFL divisional logos and colours with the Sky Bet Championship logo featuring a new gold design, Sky Bet League One a silver design and Sky Bet League Two a red design. The logo for the Sky Bet Play-Offs will combine the three colours together.