The UTV Media-owned network has secured commercial radio rights to the FA Cup in the UK, and will cover the competition for the first time.
It has also secured global FA Cup rights for TalkSport International, which launches next month.
Starting in the 2012/13 season and running through to 2017/18, the two broadcasters will share radio rights to The FA Cup, the Community Shield and England internationals.
Listeners will be able to look forward to live coverage of qualification games for the 2014 and 2018 World Cups and the 2016 European Championships in France.
The deal will start with the Community Shield - the traditional English football curtain raiser - on August 12, with live coverage coming to analogue, digital and online radio via both stations.
"Today's announcement clearly positions TalkSport as the leading commercial sports radio station worldwide," said Scott Taunton, the chief executive of TalkSport.
"The FA Cup is the original and most historic cup competition in the world. I'm extremely excited that this deal gives us the ability to bring TalkSport's passion and analysis to the FA Cup, Community Shield and England friendlies to our listeners in the UK for the first time ever."
BBC Sport director Barbara Slater said: "We're delighted to have secured another agreement for the commentary rights on BBC Radio 5 Live for The FA Cup and international matches.
"Both have a strong heritage on BBC radio and are hugely valued by our listeners. It's really exciting to take it forward for another six seasons."
"The FA Cup enjoyed a highly successful campaign in Budweiser's first year as sponsor and there's a real appetite for the competition ahead of the 2012-13 season and the Extra-Preliminary Round on August 10.
"It will be an exciting year for England as Roy Hodgson leads us into the World Cup qualifying campaign and some mouth-watering fixtures as part of The FA's 150th anniversary celebrations."
Alongside the UK rights, TalkSport also gets full syndication rights to broadcast FA Cup matches and the Community Shield worldwide in any language using TalkSport International, its new global service that launches on August 18.
This follows the recent announcement of TalkSport's exclusive deal with the Premier League to broadcast live commentary of games outside the European Economic Area.
"The opportunity to broadcast FA Cup games internationally has been a key part of our global plans for TalkSport Live and today's rights announcement opens up the European market to us," said Taunton.
"We are in the process of creating a network of global radio and distribution partners for TalkSport Live."