The fourth and fifth runs will feature two celebrity specials each and both series will climax with an episode involving previous champions.
Meanwhile, the fifth series of the show will introduce a new course to test the contestants in diifferent ways.
The BBC's entertainment editor Mirella Breda said: "Total Wipeout has firmly established itself as part of BBC One's Saturday entertainment family. We are thrilled that it is loved by viewers of all ages and it is a pleasure to have recommissioned the show for a further two series.
"Be prepared for more comedy moments as the British public take on the mighty red balls one more time."
Total Wipeout, which is filmed in Argentina, is hosted by Richard Hammond and Amanda Byram.