Sir Frank Williams, team principal of WilliamsF1, said: "I am pleased to confirm that, following a mutually successful four-year partnership, Oris have extended their relationship with the team for a further season.
"This announcement indicates a clear commitment from a long serving partner and it is our intention to repay that support on the race track."
Oris produced a series of Formula 1-inspired timepieces in 2003, with strap designs mirroring an F1 tyre's vertical tread -- it went on to become the highest selling Oris watch of the year.
Oris branding was given more prominence in the 2006 season, moving from the cars' rear wing endplates to the front wing endplates and onto the drivers' overalls and pitstop crew's clothing. Race drivers also acted as ambassadors for the brand.
In 2007, the Oris name will be added on to the drivers' gloves, and drivers Alex Wurz and Nico Rosberg will act as ambassadors for the brand.
Ulrich Herzog, chairman and CEO of Oris, said: "I am confident that, based on the major realignment within WilliamsF1, the team will in future be much more in a position to deliver strong results on the race track and thus give Oris positive brand exposure within the powerful environment that is Formula 1."
The Formula 1 season begins on March 18 with the Australian Grand Prix in Melbourne.