The station has been the lead partner with the Premier League since the 1992/1993 season and the new deal also comes as BBC takes on the television rights for Saturday night highlights from next season.
Alongside an extension to the existing contract, live web streams on matches will also be available on the Five Live website from next season.
Bob Shennan, controller of BBC Radio Five Live, said: "This is a hugely important contract for Five Live and the BBC.
"We are immensely proud of the close and successful working relationship we have established with the FA Premier League over more than a decade and look forward to working closely again as we take our Premiership coverage forward.鈥