The new deal runs to the end of 2007 and includes all UK rights to broadcast TV, new media and commercial activities such as books, DVDs and CDs.
Channel 4's current four-year deal for the UK rights to the show runs out this year and although the broadcaster was willing to take on another two series, it was not prepared to sign a longer-term contract for the show for fear of the show's popularity fading.
This year, the show seems to be shaping up well with viewing figures averaging 4.1m since its launch.
Last year, the series performed well, attracting audiences of well over 4.3m or 25% each night, with 7.3m viewers tuning into the opening episode, but the previous year's show, the fourth season of 'Big Brother', made little impact in the ratings and was slammed by viewers and critics for being boring.
The first 'Big Brother' contract in 1999 was for two years because producers were not sure how successful the format would be. After the first two series, Channel 4 signed for a further four years.
Lucas Church, joint managing director of Endemol UK, said: "Channel 4 remains the natural home for this project and we are delighted to be extending our partnership for another two years."
Marketing student and self-proclaimed sex addict Sam was booted off the show on Friday with 59% of the vote.
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