The Valencia Grand Prix will remain on the MotoGP calendar until at least 2016 after event organisers agreed a new deal with the sport's commercial rights-holder Dorna.
A seven-year deal to retain the event as part of the championship was signed on Wednesday night by Dorna CEO Carmelo Ezpeleta at a ceremony in the Spanish city.
"It is a pleasure for Dorna to extend the agreement that we have had with Valencia since 1999 for them to host MotoGP races," said Ezepelata.
"Valencia is already a 'classic' for the World Championship, and on several occasions it has been awarded as the best GP of the season. It is therefore an honor to continue our cooperation with the circuit and to count on Valencia as the last GP of the season for the forthcoming years, as well as the venue for the annual FIM Awards gala ceremony."
Valencia's first MotoGP race was held in 1999 and was won by Regis Laconi.