Red Bull will continue to use Renault engines for the 2017 and 2018 seasons.
Their relationship with the French manufacturer looked set to cease at the end of last year, but the former world champions will be backed by Renault - badged as TAG Heuer - for at least two more campaigns.
Red Bull's junior team Toro Rosso, powered by Ferrari this season, will also revert to Renault until the end of 2018.
"We are delighted to extend our partnership which has proven very successful over time," Red Bull team principal Christian Horner said.
"After the reconstruction that Renault has undertaken, clear progress has been made which has made it logical to continue with the TAG Heuer-badged engine."
Red Bull, who won four consecutive team and driver titles between 2010 and 2013 backed by Renault, blamed the manufacturer for their slump in recent seasons.
But following Max Verstappen's victory in Spain, and Daniel Ricciardo securing pole position for Sunday's Monaco Grand Prix - the team's first in more than two years - the Milton Keynes-based outfit are enjoying a revival.
"We are very pleased to partner with two such strong teams," Jerome Stroll, president of Renault Sport Racing, added.
"Having competitive partners demonstrates the confidence both have in the improved Renault power unit and in our organisation as a whole."
Source: PA
