The Austrian Grand Prix will remain on the Formula One calendar until 2027.
The race at the Red Bull Ring - which returned to F1's schedule in 2014 following a decade away - has become synonymous with overwhelming support for world champion Max Verstappen.
Last year, 60,000 Dutch fans travelled from the Netherlands to support the double world champion.
This year's race, which will take place on July 2, is sold out with more than 300,000 fans expected over the weekend.
The Spielberg venue will also host a sprint race - one of six scheduled this season.
Last year's event was overshadowed by claims that fans were subjected to racist and homophobic abuse and sexual harassment.
Lewis Hamilton said he was "disgusted and disappointed" at the allegations, while F1 bosses launched an investigation, describing the reports as "completely unacceptable".
