The multimillion pound deal, negotiated by Starcom+, the sponsorship arm of Starcom Group, will include broadcast sponsorship of races, qualifying programmes on ITV1 and highlights on ITV4, as well as, for the first time, interactive coverage featuring exclusive Honda and F1 content.
Starting on Saturday (17 March), with qualifying for the Australian Grand Prix, the deal also includes sponsorship of www.itv.com/f1.
Last season's coverage of F1 was sponsored by swiftcover.com and peaked at almost eight million viewers.
Meanwhile, Bahlsen Biscuits, which sponsors Parkinson, has signed up to back Dame Edna Everage's new show, The Dame Edna Treatment. The show, which starts on ITV1 on Saturday, will see the cross-dressing Aussie star hand out health tips to fellow celebrities.