Oramo has held the position in London since 2013, having previously served principal positions with the Royal Stockholm Philharmonic Orchestra and the City of Birmingham Symphony Orchestra.
“Very often in these strange times my thoughts go back to a miraculous few days in 2011, when all of a sudden I found the most exciting artistic partnership of my life – the BBC Symphony Orchestra," Oramo this week commented.
"The ability of this miraculous orchestra to transform itself according to the music they play and their warm-hearted supportiveness, instinctive brilliance and ability to capture the essence of what makes a great musical performance – make them unique," the 55-year-old said.
"The creative relationship he and the BBCSO enjoy is truly special and seeing it grow and develop over the years has been one of the joys of my time as Director," Paul Hughes, Director of the BBC Symphony Orchestra said.
"His enthusiasm for extending his contract with us underlines the fact that there is still so much more exciting music to be made together, and that makes me and the whole team very happy."