Ascot's 25 annual fixtures will be broadcast on Sky Sports Racing from March 2019.
At The Races will manage UK streaming for betting rights for the racecourse as part of the agreement with Ascot, which will run until at least 2021.
Ascot joins Sky Sports Racing's global rights portfolio, which includes the Boodles Chester May Festival, William Hill St Leger, Coral Welsh Grand National as well as the Breeders' Cup, US Triple Crown, Qatar Prix de l'Arc de Triomphe and the Melbourne Cup Carnival.
Barney Francis, managing director at Sky Sports, said: "Horse racing is a hugely important sport for us - one that we've been supporting for more than 20 years.
"In Sky Sports Racing, we are creating a new dedicated home for racing fans, and an eleventh Sky Sports channel. We're thrilled to be able to add Ascot to what is already a stellar line-up."
Ascot's chief executive officer, Juliet Slot, led the media and data rights review and said the racecourse was "really pleased" to partner Sky Sports Racing.
"We've chosen them because of the significant investment and commitment to the sport that they have demonstrated, the brand alignment and cross-promotional opportunities that come with the major sports that Sky covers, and the fact that Sky Sports Racing is available in more than 14 million homes," she said.
Matthew Imi, chief executive of At The Races, added: "Sky Sports Racing is an important development for our sport which can benefit the whole industry. For the first time, racing will be positioned and heavily cross-promoted shoulder to shoulder with the other key domestic and global sporting events Sky Sports showcases across its ten other channels.
"Ascot and Sky Sports share several characteristics - building a first-class, market-leading business with an attention to detail and an absolute commitment to quality; adopting a progressive approach with an emphasis on innovation and creativity; and ensuring that the customer experience is a great one."
Sky Sports Racing will replace At The Races and will be available to every Sky TV customer in the UK and Ireland at no extra cost.