Officials at the Hungaroring have confirmed that the circuit's contract to host Formula 1 races has been extended until at least 2026.
Hungary has been a mainstay on the calendar since 1986, with only Monte Carlo and Monza enjoying longer uninterrupted spells, and its existing deal ran until 2021.
Upon the reopening of the venue after resurfacing works, Miklos Sesztak, the Minister of National Development, confirmed its extension for a further five years.
"The Grand Prix's contract was extended for another five years, which means that it has a place on the Formula 1 racing calendar until 2026," he said.
"Without giving secrets away [regarding] the details of the contract, I can tell you that we can organise this for another five-year period on very favourable terms."
Further development works will take place at the circuit across the next few years.
"The first step was the resurfacing, but other [areas] still need [work], and I can say: the 2017 budget plan submitted means substantial resources have been earmarked for the development of the Formula 1 circuit.
"Formula 1 in our country is one of the most important sporting events every year, and the Hungarian Government is committed to it."