Stewart's Daily Show will run until at least the middle of 2015, while the Colbert Report is contracted until the end of 2014.
Both Stewart and Colbert will continue to write, host and exec produce the hit comedy shows, reveals The Hollywood Reporter.
The multi Emmy-winning Daily Show remains a big ratings hit with the 18-49 demo.
The Daily Show with Jon Stewart recently returned to the UK on Comedy Central Extra. It now airs weeknights at 10.30pm.
Watch a clip of Jon Stewart welcoming British TV fans back below: