The Jeffrey Donovan spy drama has received an order for 13 new episodes from the USA Network, Deadline reports.
USA previously renewed its shows Suits, Royal Pains, White Collar and Covert Affairs.
Meanwhile, Fairly Legal and Common Law have both been axed, while the future of Necessary Roughness is yet to be decided.
Burn Notice star Bruce Campbell - who plays Sam Axe - recently told Digital Spy that he thinks the show's seventh run should be its last.
"I'll go seven seasons... that's all you need to tell," said Campbell. "That's plenty of stories. That's plenty.
"If we knew the seventh season was the last one, then you could really gear yourself towards that - for that seventh and last season, you're really going for it."
Burn Notice is currently on hiatus, with its sixth season to resume on November 8.
> Burn Notice Gabrielle Anwar Q&A: 'I want to explore Fiona's past'
Watch a promo for the return of Burn Notice below: