The Tour Down Under's future was assured as title sponsor Santos announced it would continue for another four years. The agreement gives the Australian energy corporation naming rights through 2016.
"This is fantastic news for the State and it shows the confidence Santos has in the event," said South Australian premier Jay Weatherill.
"The race is now truly established on the world stage, kicking off the annual UCI WorldTour calendar and attracting the best teams and riders to Adelaide each January."
The Tour Down Under, in its 14th year, became the first non-European race on the UCI's top tier racing calendar in 2008. The UCI extended the race's WorldTour license through 2015 last August. Santos first signed on as title sponsor for the 2010 edition.
"The Santos Tour Down Under is the biggest cycling race in the southern hemisphere and the news that our successful partnership will continue ensures this event can continue its impressive growth."
The race organisation's press release estimates last year's event was worth $43 million to South Australia's economy and was attended by "more than 780,000 people".