The bookmaker has reportedly agreed a one-year extension to its sponsorship of the top four tiers of the game, with an option for a further one-year renewal.
All 42 senior clubs are understood to have ratified the deal, which is believed to be worth more than £2m for the season and includes the option for a further year extension. An official announcement is expected in the coming days.
A league insider told the Daily Record: "Ladbrokes have been fantastic partners for Scottish football and both brands have benefited from the sponsorship. Their continued backing gives our game stability and real cause to look forward with optimism.”
The betting firm first partnered with the league in 2015 in what was the biggest in the league's history, worth more than £4m over two years.
The return of regular old firm fixtures is likely to have played a key role in Ladbrokes decision to remain the league's title sponsor. The draw has reportedly influenced BT Sport to consider offering an exclusive broadcast deal with the SPFL with a record breaking bid intended to nudge out Sky.