This deal has signed Mengniu as the top partner and extended the partnership with Coca-Cola, which dates from the 1928 Amsterdam Games, to 104 years.
"This long-term agreement is another demonstration of the relevance and stability of the Olympic Games in these times of uncertainty," IOC President Thomas Bach said, according to the organization's website.
"Having our longest-standing partner, Coca-Cola, an iconic American brand, together with a young Chinese company, Mengniu, joining hands under the roof of our Worldwide TOP Program is a great example of the unifying power of the Olympic spirit," Bach added.
State-owned Mengniu, one of the largest dairy companies in China, is a manufacturer of milk, yogurt, ice cream and powdered milk, reports Efe news.
It had become the first dairy company in 2014 to be included in the Hang Seng Index of the Hong Kong Stock Exchange.
Mengniu executive director Jeffrey Lu and Coca-Cola president James Quincey took part in the partnership announcement in the Swiss city of Lausanne, where the IOC will reveal the host of the 2026 Winter Games later on Monday.
"Membership of the TOP Program will act as a catalyst for Mengniu to grow around the world," Lu said.
"As a Worldwide TOP Partner, we look forward to using the unrivalled platform of the Olympic Games to promote health and joy to Olymp and fans alike," he added.
Quincey said it was his company's honour and privilege "to be a part of the Olympic Movement that makes it possible for athletes from all over the world to come together to represent their nations, pursue their dreams and be a part of history."
"A lot has changed since we sold the first Coca-Cola at an Olympic event in 1928. With a fresh approach to our business and to our sponsorship, we are proud to join with Mengniu to promote and celebrate future Olympic Games," he added.
The partnership is due to continue through the 2022 Beijing Olympic Winter Games, the 2024 Paris Olympic Games, the 2026 Olympic Winter Games, the 2028 Los Angeles Olympic Games and the Olympic Games 2030 and 2032.
The Olympic Partners (TOP) Program was created in 1985 and currently includes Coca-Cola, Alibaba, Dow, General Electric, Intel, Omega, Panasonic, P&G, Samsung, Toyota and Visa.
( With inputs from IANS )