"Government has extended the term till March 31, 2013," Commission secretary I T Sharma told PTI.
This is the sixth time the term has been extended.
Commission was set up in 2008 to probe the mysterious death of two children, whose bodies were found on the Sabarmati riverbed on July 5, 2008 after they went missing on July 3.
Dipesh Vaghela and Abhishek Vaghela, cousins, were studying at Ashram's Gurukul (residential school) at Motera here. The mysterious deaths caused a considerable uproar, with parents levelling allegations of "black magic" against Asaram and his son Narayan Sai.
CID is also conducting investigation. Seven disciples of Asaram Bapu were arrested in the case, now they are on bail.
Asaram appeared before the Commission for deposition on December 1 after much dithering. He refuted the allegations and said it was a conspiracy to malign the Ashram and Hinduism.
His son Narayan Sai also deposed, denying any knowledge of `black magic'.