Michelin took over from Bridgestone at the end of the 2015 season after the Japanese company spent seven years as the first exclusive provider of tyres to the series.
"MotoGP has only continued to grow, excite and thrill fans since Michelin came on board ... and we are proud that our partnership will once again form the foundations of a further five years of stunning racing," said Dorna chief Carmelo Ezpeleta.
Italian manufacturer Pirelli has been the sole tyre provider to the Formula One world championship since 2011, while American companies Goodyear and Firestone are control suppliers to NASCAR and IndyCar racing series respectively.
(Reporting by Nick Mulvenney in Sydney, editing by Peter Rutherford)
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