Partnership will live on for at least one more year.
The collaboration, which meant Aston Martin's logos appeared on the Red Bull car and the Milton Keynes-based team helped with the development of the AM-RB 001 hypercar, will now carry on into 2017.
Aston Martin president and CEO Andrew Palmer said: "Our relationship with Red Bull Racing has done for Aston Martin exactly what we expected it to do.
"It is helping us to continue to build our brand across the globe. Partnerships like this are good for business both in terms of technical innovation and brand awareness, so we are pleased to continue into 2017."
Red Bull boss Christian Horner added: "The extraordinary success of the AM RB-001 is testament to the expert and collaborative spirit in which it was forged, and extending our relationship with Aston Martin through 2017 was a simple and pleasing decision."
Aston Martin has sold all 150 road-going versions of the AM-RB 001 hypercar, with 25 track only versions also up for grabs. Delivery is expected in early 2019, with a prototype set to run next year.