With this extension, CPL will continue to be called the 'Hero Caribbean Premier League' until the 2018 season.
The New Delhi-headquartered Hero MotoCorp became the title Sponsor of the Twenty20 cricket league in the Caribbean for the first time in 2015.
Hero has for long been a key partner of marquee events in various disciplines of sports - including cricket, soccer, field hockey and golf - in India and across the globe.
Pawan Munjal, Chairman, Managing Director and CEO, Hero MotoCorp Ltd, said: "Cricket continues to be one of the most popular sports in various parts of the world, and the Hero CPL has become an eagerly-awaited annual event for cricket fans not just in the Caribbean but across the globe.
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The Hero CPL 2016 will be played between June 29 to August 7 at venues across seven territories - Barbados, Guyana, Jamaica, St Kitts & Nevis, St Lucia, Trinidad & Tobago and Fort Lauderdale in the USA.
Welcoming the contract extension, Richard Bevan, Chairman of the Hero CPL said: "On behalf of the management and board I am delighted to announce that Hero MotoCorp will continue its affiliation with CPL as title sponsor of the biggest party in sport for the next three years.