Powercor has signed on to sponsor Australia's famous footrace for a five-year deal from 2021.

Tourism, Sport and Major Events Mininster Martin Pakula confirmed the long-term agreement as preparations continue for the return of iconic drawcard to Central Park

"The Stawell Gift is an iconic event in Australian sport that holds a special meaning for so many people - this partnership ensures that the Gift will remain a fixture of Victoria's Easter long weekend for many years to come," he said.

The 139^th running of the Stawell will be run on April 3-5 2021 after the 2020 Gift was cancelled due to the coronavirus pandemic.

"The Stawell Athletics Club are the proud custodians of the Stawell Gift and we thank Powercor for their contribution, ensuring the tradition continues at Central Park," club president Neil Blizzard said.

In August 2020, a new board of management that included commercial and marketing expertise was formed, setting the Stawell Gift on track for a vibrant event and welcoming thousands of people to the Grampians region each year.

Powercor is Australia's leading rural electricity distribution network supplying power to almost 1 million households and businesses in western Victoria including Melbourne's western suburbs.

"We know how important iconic events like the Stawell Gift Meeting are to the local communities we supply. Next year's event will be a great signal that 2021 is the start of a whole new normal that includes our greatest traditions," he said.