The PGA Tour announced Thursday it has year contract extension through the 2018 season.

This is the second six-year agreement between the two parties, and the first six-year contract was set to expire following the 2012 tournament, which takes place February 22-26.

"The Mayakoba Golf Classic has been a terrific addition to the PGA Tour schedule, and its success since 2007 has helped to pave the way for our increased presence throughout the region," said PGA Tour commissioner Tim Finchem.

Fred Funk won the inaugural event back in 2007, and other winners include Brian Gay in 2008, Mark Wilson in 2009, Cameron Beckman in 2010 and Johnson Wagner most recently in 2011.