Avanti West Coast has had its contract extended for a maximum of nine years.
The National Rail Contract for the West Coast Partnership has been agreed with the Department for Transport.
The contract will start on October 15 and last until 2032, subject to ongoing Department for Transport approval. It begins with a core three-year term to October 18 2026.
But Cumbrian MP Tim Farron has criticised the deal.
The Liberal Democrat, who represents Westmorland and Lonsdale, said: “The Government have rewarded failure.
“They talk of ‘significant improvements’ and yet my experience – and the experience of many of my constituents – using Avanti trains these past few weeks has been cancellations, delays and packed trains with too few carriages.
“A reliable West Coast Main Line is vital to our visitor economy here in the Lake District but that has simply not existed since Avanti took over from Virgin almost three years ago now.
“The Government have shown they are on the side of a big failing rail company, rather than long-suffering passengers.”