Sir Richard Branson's company hopes the slot will boost the profile of its Virgin Mobile brand.
Virgin will replace rival The Carphone Warehouse, which pulled out of the reality TV show earlier this month after three years of sponsorship, following the Celebrity Big Brother race row.
James Kydd, Virgin Media's managing director of marketing, said he was undeterred by the controversy.
"Big Brother has always come under the spotlight and courted a lot of attention," he said. "Virgin is known for facing challenges head on and we know that our customers enjoy Big Brother because it's the most unpredictable and exciting TV programme there is."
The eight season of the reality show is set to air this summer.
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