The terms of the deal have remained a secret, though it is understood that both parties are pleased with the numbers on the table.
Castle Lager were the first-ever sponsors of the national side, signing up with SAFA before Bafana Bafana had kicked a ball in anger in 1992.
The 20-year anniversary of their first international match against Cameroon in Durban came and went on July 7, and Castle Lager have used the 20-year celebration to announce they had signed on for a further five years.
The decision will have been aided by Bafana's participation at the 2013 Africa Cup of Nations on home soil, where they have qualified as hosts after missing out on the lost two continental finals.
The performance of the team over the past nine months will have been a concern Castle Lager and the new deal comes just weeks after the axing of former coach Pitso Mosimane.