The extension, worth £82.25m over three years, will take the bank’s title sponsorship through to the end of the 2012/13 season.
Barclays has sponsored the football championship since 2004 and its Barclaycard credit card brand backed it from 2001 to 2004.
The bank’s current three-year deal, which expires next year, was worth about £65m.
The agreement also includes exclusive world-wide marketing rights, UK and international television programme accreditation and advertising packages.
In addition, the bank will also continue to sponsor the biennial pre-season tournament, the Barclays Asia Trophy, which most recently took place in Beijing in the summer of 2009.
Robert E Diamond Jr, president of Barclays, says the association has been “very successful” for Barclays.
“The sponsorship is a very important element of our marketing mix and provides a cost effective method to market our organisation, helping us in our ambition to be one of a handful of banks leading the global financial services industry,” he says.