The race in Spielberg is a home one for the energy drinks company that owns two of Formula 1's 10 teams in champions Red Bull Racing and Italy-based AlphaTauri.
Both sides agreed a four-year extension to 2027 only last March.
Formula 1 chief executive Stefano Domenicali said the latest extension was a tribute to the "vision and passion" of Red Bull's late co-founder Dietrich Mateschitz, who died last October.
"The race in Austria is a big favourite for the drivers and all our fans and we are looking forward to many years of excitement and action that are ahead of us," he added in a statement.
Sunday's announcement puts Austria ahead of other European circuits in terms of contract longevity.
Elsewhere, Bahrain has a deal to 2036, Melbourne to 2035, Saudi Arabia and Qatar to at least 2032, Miami to 2031 and Abu Dhabi to 2030.
The Austrian race returned to the calendar in 2014 after an 11-year absence.
Red Bull have won every race so far this season and nine in a row including the last round of 2022.
The team of double world champion Max Verstappen and Mexican Sergio Perez celebrated their 100th win in Formula 1 in Canada last month.
