Dorna Sports and the Mugello circuit have reached agreement on a new five-year deal, meaning the Italian Grand Prix will continue to be held at the Tuscan circuit until at least 2016.

The circuit, which first featured on the world championship calendar in 1976 and has held a Grand prix event continually since 1991, has become one of the landmark features on the MotoGP schedule and this weekend's 2011 event featured a brand new grandstand and resurfaced track.

"This is an amazing facility which will have a place on the MotoGP World Championship schedule until at least 2016," said Dorna CEO Carmelo Ezpeleta. "The organisation of this race is very professional and the improvements we've found this year have done nothing but raise the circuit's already extremely high standards.

"The new grandstand on the start/finish straight, the relaying of the asphalt which all riders from each of the three categories have praised, and the environment at Mugello make it a very special race which, fortunately, continues to be a mainstay in MotoGP."

"We're very pleased to announce the renewal of the agreement which confirms Mugello will continue to be a MotoGP venue," added Paolo Poli, Chief Executive of the Mugello Circuit. "This also ensures that the Italian Grand Prix will remain the most important event of our sporting calendar in years to come."

Stefano Domenicali, Ferrari Team Principal, added: "The Autrodromo Internazionale del Mugello has become more and more important within our company, and this new deal is a great tribute to the Mugello circuit, its staff and the work that has been done here in the past few years."

Ferrari owns the Mugello circuit, which is own of two Italian circuits on the MotoGP calendar. The other is Misano, which host the San Marino round.