Last season Atleti, under the guidance of coach Diego Simeone, won their first La Liga title since 1996 and reached the final of the Champions League.
Their return to the pinnacle of club football has raised the profile of the Madrid outfit considerably and they have now taken another positive step in the right direction off the pitch.
Nike, who first collaborated with Atletico back in 2001, have sealed an agreement that will take their partnership up to the 25-year mark.
Miguel Angel Gil Marin, president of the Spanish club, revealed his delight at the deal: "Having Nike, a selective, demanding, world leader in the sport, working with us is definitely a very important thing for us.
"Continuity of this agreement means that they believe in us and our project."