Chelsea, which won the Champions League for the first time this year, signed its initial deal with the South Korean electronics maker back in 2005.
The move marks the latest major Premier League shirt sponsorship deal and follows Manchester United’s deal with US car brand Chevrolet.
Sunderland has also recently signed a shirt sponsorship deal with not-for-profit group Invest in Africa.
Chelsea’s initial deal with Samsung was valued at around £11m a year. According to one report, the new deal is worth around £18m a year. This is less than the Manchester deal, which is thought to be worth around £25m a year.
Sunny Hwang, Samsung’s vice president and head of worldwide sports marketing, has previously said that Samsung would wait to see if Chelsea won the Champions League final against Bayern Munich.
A number of other Premier League clubs, including Tottenham and Fulham, are looking for new shirt sponsorship deals, as their exiting deals expire at the end of the season.Follow @johnreynolds10