"We are proud of our record of forging strong associations with our principle sponsors and delivering success for them and we are delighted Victor Chandler has agreed to extend the sponsorship agreement," said Forest chief executive Mark Arthur.
Victor Chandler added: "I am delighted to have reached an agreement to continue sponsoring Nottingham Forest. This season has been a huge success and I am confident the team will secure promotion to the Premier League.
"The global television coverage of the Premier League offers worldwide media opportunities and will benefit our Far East business particularly."
At the start of the campaign, Victor Chandler pledged to pay for season ticket holders' renewals for next season should Forest win the Championship. It would cost the bookmaker in the region of £6million.