A joint statement from Silverstone and the Circuit of Wales, who have a five-year hosting contract despite their track being unbuilt, said this year's race would go ahead as planned on Aug. 28-30.
"We are delighted to secure the future of the event for the next two years while our circuit in Wales is under construction," said Circuit of Wales chief executive Michael Carrick.
Donington announced on Tuesday the termination of an agreement with the Circuit of Wales because they said payment deadlines had not been met.
The Circuit of Wales disputed that, saying they had been unwilling to provide "significant funding" to upgrade the Donington track.
Silverstone, home of Britain's Formula One race, hosted last year's British MotoGP round after it switched to the central English circuit from Donington in 2009.
Britain has hosted a motorcycle grand prix since 1949, with the Isle of Man TT counting as a round of the championship until 1976, and Silverstone was the only viable option to keep it on the calendar this year.
Silverstone managing director Patrick Allen said it had been "devastating" for his circuit to lose the race contract last year and he welcomed the return.
"Two-wheel racing is as much a part of Silverstone’s heritage as four-wheel racing and I am obviously delighted to be in a position to announce we are hosting both the F1 and MotoGP Grands Prix in 2015," he said.
The Circuit of Wales, which hopes to be ready by 2017, faces a public enquiry before building work can start on the planned 250 million pounds ($380.68 million) facility.
(Reporting by Alan Baldwin, editing by Tony Jimenez)
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