The 'Dance Wiv Me' rapper has signed an "unprecedented multi-layered deal" with the industry giant, according to The Sun.
The 27-year-old's long-awaited fifth studio album is set to be released on Universal label Island Records under the new agreement.
Dizzee made his name on independent label XL Recordings, before releasing his latest LP Tongue N' Cheek through his own company Dirtee Stank in 2009.
He has recently expressed a desire to work with Foo Fighters and Nirvana musician Dave Grohl after his self-appointed hiatus.
"I love the way [Grohl] carries himself," he explained. "He refused to live in the shadow of Nirvana. He's carved his own thing. I'd love to have him in the studio just to see how he views things."
Watch Dizzee Rascal in the video for 'Dirtee Disco' below: