ITV chief executive Adam Crozier made the announcement at a Broadcasting Press Guild lunch today (December 7).
Cowell, who served as a judge in the final week of live shows this year, will return to the next series following the recent exits of judges Michael McIntyre and David Hasselhoff, both of whom featured on the talent show panel for just one run.
Crozier went on to defend the decision to sign a three-year deal in 2010 for Britain's Got Talent and The X Factor which did not ensure Cowell's participation in the shows.
"It was a very important deal for us in lots of different ways," Crozier said.
"BGT and X Factor are two of the best known and best loved shows but we had only ever had them on annual deals. It was important to put them on a longer-term footing."
It was previously reported that Cowell was planning to rejoin the Britain's Got Talent lineup in a bid to improve viewer ratings.
"Simon wants to make it the biggest, most successful series yet," a production insider said at the time. "His presence will be a guaranteed ratings winner as he is so popular with viewers."
David Walliams, Dannii Minogue and Samantha Womack have all been linked with a spot on the judging panel for next year's Britain's Got Talent.
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