The Canadian Grand Prix is to remain on the Formula One calendar for the next 10 years.
On Saturday, organisers of the race at the Circuit Gilles Villeneuve confirmed they had signed a new contract with Formula One Management through to 2024.
Announcing the deal, Mayor Denis Coderre said: "This is a positive outcome for Montreal.
"The Canadian Grand Prix is part and parcel of Montreal, one of the big international events that builds our outstanding reputation as one of the world's great cities."
Coderre also confirmed an investment of around 32 million Canadian dollars (£17.4m) will be made to improve the paddock complex and build a new grandstand to bring them into line with more modern venues.