Transdev will continue to operate Luas services here in the city for the next five years.
Their current contract ends on the 28th of this month, and they won the new one after a tendering process with the Railway Procurement Agency (RPA).
It is worth €150m over the period of the contract.
The system, which marked its 10th birthday back in June, carried 30.5 million passengers in 2013 - with an average of 80,000 people daily.
The numbers travelling on the system are expected to rise by another 10 million when the Luas Cross-City line is finished in 2017.
The two current lines have 54 stops altogether and run for 36.5 kilometres. The central control room is located in the Red Cow Depot. and both lines are monitored from this location 24 hours a day by traffic supervisors.
66 tram vehicles serve the Luas lines, which are manufactured in La Rochelle, France by Alstom Transport.
Rory O'Connor is chief executive of the RPA and says the new contract is a good deal.
