The two-year agreement includes a continued Budweiser presence at the club's Old Trafford stadium with exclusive pouring rights at concessions and digital on-field signage, displayed in both English and Mandarin.
In addition, Budweiser retains the rights to use the Manchester United logo and player images in advertising, point-of-sale materials and packaging in key markets around the globe. The deal also includes hospitality packages and match tickets for promotional activities.
It marks the third consecutive sponsorship deal between the Premier League club and the beer brand. The first four-year deal was signed in 2002 and then renewed for a further two years in 2006.
Budweiser's involvement in football sponsorship spans more than twenty years, starting with signing as the official beer sponsor of the Fifa World Cup in 1986.
The sponsorship provides good news for the club following the uncertainty of its £56m deal with American insurance company AIG, which had to be rescued with an emergency loan from the US government last month.
Tony Ponturo, vice-president of global media and sports marketing Anheuser-Busch, said: "Manchester United and Budweiser are a perfect match, both having strong, storied heritages and a commitment to being the best."
Anheuser-Busch is in the process of a $52bn (£26bn) takeover by Belgian brewer InBev, owner of Beck's and Stella Artois, which will create the world's largest brewer.