Starting in the coming 2013/14 season, the League's flagship competition will be titled the Sky Bet Football League, with its three divisions being becoming the Sky Bet Championship, Sky Bet League One and Sky Bet League Two.
Sky Bet's head of trading Sandro Di Michele said: "This is a ground-breaking deal for Sky Bet and the Football League and is a really exciting opportunity for the Sky Bet trading team.
"We want to be the home of betting for all supporters of Football League clubs and in recognition of this Sky Bet are best price on all 72 clubs to win their league. You will not find better outright prices across the Championship, League 1 and League 2 so we are the bookmaker to have your ante-post accumulator with.
"We really want to give something back to supporters of the 72 Football League clubs so as well being top price on every team to win the league we will be offering specials on all three divisions, specials for the 125-year anniversary of the Football League and also weekly specials for every club throughout the season."
This is Sky Bet's first ever off-screen football sponsorship and is aimed at building even greater awareness of Sky Bet's growing range of online and mobile betting services.
Sky Bet are currently the UK's fourth largest online bookmaker and the fastest-growing. At Sky Bet, football fans can find a huge range of popular markets throughout all divisions as well as a variety of Football League specials which have been created to celebrate both the new partnership and the 125th anniversary of the Football League.
Sky Bet's mobile app is one of the top-rated in the App store and over one million UK residents have placed a bet with Sky Bet in the last 12 months.
In addition to title sponsorship of the three leagues, Sky will also use its partnership with the Football League to explore opportunities to support grassroots football. They will also offer customers exclusive competitions and promotional offers, including access to Football League match tickets.
Richard Flint, managing director of Sky Bet, said: "The sponsorship of the Football League helps us engage with millions of football fans spanning all 72 League clubs. It was important for us that we are able to demonstrate our commitment to all Football League clubs and fans nationwide, starting with our trading team going top price on all Football League teams to win their respective league. The strength of our technology supported by a trusted brand that is part of the fabric of football means we're ideally placed to add to the match-day experience of fans.
"This is a ground-breaking partnership for Sky Bet. As title sponsor, we are relishing the opportunity to enhance the football experience for Football League fans through our range of league specific markets and price boosts. In the past, fans would go into a betting shop on the way to the ground but with our industry leading mobile app and website, they can place their bets quickly and conveniently whether they are going to the match or watching it on Sky at home."
Football League chairman Greg Clarke added: "I am delighted to welcome Sky Bet to working with the Football League and its clubs. This agreement takes our long-term partnership with Sky to a new level and provides a genuine boost to clubs ahead of the new season."