The World Darts Championship will stay at Alexandra Palace until at least 2031 after the PDC agreed a new five-year deal.
The showpiece tournament has been held at the famous north London venue since 2007 but following the rapid growth in the sport, PDC supremo Barry Hearn had raised the prospect of taking it elsewhere.
PDC CEO Matt Porter told ESPN that a decision would come this week regarding the tournament's future at the venue, and on Thursday a new deal was announced.
However, it will see the tournament will move to the Great Hall from next year's edition, allowing for more fans to attend and better infrastructure.
Porter said in a statement: "Alexandra Palace has become synonymous with the World Darts Championship, and we are thrilled to extend our partnership through to at least 2031.
"Ally Pally at Christmas is the identity of the tournament -- its atmosphere is unmatched anywhere in sport.
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"Demand for tickets has never been higher, and moving into the Great Hall from 2026/27 will allow more fans than ever to enjoy this incredible event.
"Previous obstacles to using the Great Hall have now been resolved, and this move represents a landmark moment for the sport."
This year's competition begins next Thursday, with Luke Littler kicking off the defence of his historic title.