The deal is understood to be worth around €255m (£159.6m) for the exclusive live rights to broadcast 64 matches at next year's tournament -- to be held in Japan and Korea -- and the 2006 competition in Germany. The package also includes the rights to the highlights.
Kirch initially wanted £170m for the UK rights to the competition, but the two broadcasters refused to pay more than £55m -- a figure more than 10 times the price paid for the rights to the 1998 tournament -- and the talks effectively broke down.
ITV and the BBC have both refused to be drawn on the amount they paid to clinch the deal, as has Kirch Group. ITV head of sport Brian Barwick said, "This has been a long, tough and vibrant negotiation, but our viewers are the winners."
Pressure began to mount earlier this month when Fifa indicated it would step into the talks if agreement was not reached because sponsors, including Coca-Cola and McDonald's, were said to be concerned that the sport might not be broadcast in the UK.
England's recent qualification for the World Cup is also understood to have intensified the situation.
The World Cup is among a handful of sports -- including the Olympics, the Grand National and Wimbledon -- which, under UK law, must be broadcast on terrestrial TV with nationwide availability.
Kirch, which wanted to award the rights to the highest bidder in the UK, mounted a legal challenge in Europe aimed at getting around UK broadcasting legislation which prevents pay-TV companies bidding for the World Cup.
Next year's competition will be the 10th consecutive World Cup to be jointly broadcast by ITV and the BBC.
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