CBC/Radio-Canada has won the Canadian media rights for the 2014 Winter Games in Sochi, Russia, and the 2016 Summer Games in Rio de Janeiro.
"CBC/Radio-Canada has been an unwavering champion of amateur sport and our nation's best athletes," said Marcel Aubut, president of the Canadian Olympic Committee Wednesday. "They have unparalleled experience in broadcasting major multi-sport events, most notably the Olympic Games."
For almost 60 years, and on 19 different occasions, CBC had broadcast the Olympic Games, most recently during the 2008 Olympic Summer Games in Beijing.
"This is excellent news for Canadians across the country who will once again experience the Olympic tradition with their public broadcaster," CBC president Hubert Lacroix said in a statement.
"We've promised Canadians signature events on all our platforms that create opportunities to connect with each other and the country."
The deal comes more than a month after CBC and Bell Media announced they would no longer submit joint bids for the Canadian media rights for the games.
The two media organizations, which had formed a partnership last September, had submitted two joint bids for the package, but both were rejected by the International Olympic Committee.
Canada's Olympic Broadcast Media Consortium, made up of a partnership between Bell Media and Rogers Communications, had the broadcast rights for the Vancouver 2010 Olympics and currently have the rights for the London 2012 Olympic Games.
Canada's Olympic Broadcast Media Consortium has been good because they are able to broadcast on CTV, TSN, and Sportsnet. CBC only has one channel and then there's Bold and Documentary, etc. So will CBC sell some of their rights to TSN and Sportsnet as they have in previous years?