Signed live on SuperSport TV, PSL chairman Irvin Khoza and Absa and Barclays Africa Group executive Bobby Malabie put pen to paper to confirm the continuation of the prosperous partnership.
"The last 10 years of this partnership have demonstrated that for a relationship to enjoy longevity, both sides must have common goals that glue them together," said Khoza.
"As we renew for a further five years, we would like to thank Absa for their trust and confidence in the PSL as the best vehicle for their message to millions of people."
The deal is worth half a billion Rand over the five years and the two entities are renewing a partnership that has been in existence for a decade.
The 2017/18 season will see the 16 Absa Premiership clubs battling for the R10 million winners’ cheque and kicks off on Friday with champions Bidvest Wits welcoming Cape Town City to the Bidvest Stadium.