The series, which has been a smash hit with viewers ever since it debuted in 2017, will now be on air until at least 2024 taking the show up to seven seasons.
The exciting news was confirmed by CBS boss Kelly Kahl who wrote in a statement: "Under Chuck Lorre's and Steve Molaro's deft leadership, this superb cast and gifted writers have truly brought these wonderful characters to life.
WATCH: Jim Parsons and Iain Armitage discuss Young Sheldon on Ellen
"Young Sheldon dominates the broadcast comedy landscape by over +2.5 million viewers and is the lynchpin of CBS' top-rated Thursday comedy lineup. The humor, warmth and heart exuded by the Cooper family is an undeniable hook for the millions of fans who tune in each week," she continued, adding: "We're excited to see what the next three seasons have in store for a slightly older Sheldon and all the Coopers."
Following the announcement, Iain Armitage, who stars in the show as an adolescent Sheldon Cooper, took to Instagram to celebrate the news. Alongside a photo of his on-screen family, he wrote: "Three more seasons with these wonderful people! Love you, family!!!"
The show will now run for seven seasons
The sitcom follows a younger version of the iconic character made famous by Jim Parsons growing up in a small town in Texas in the 1980s and also stars Zoe Perry, Lancer Barber, Montana Jordan, Raegan Revord and Annie Potts.
Over the years, many stars of the original Emmy-award winning show have made cameos on the spinoff, including Kaley Cuoco and Mayim Bialik, the latter of whom made a surprise appearance in the premiere episode of the current series providing voiceover in her character of Amy, Sheldon's future wife.
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