The stadium, also home to the National Women's Soccer League champion Portland Thorns, has been named Jeld-Wen Field after the window and door manufacturer in the three seasons since the Timbers joined Major League Soccer in 2011.
Terms of the 15-year agreement with the health-care provider were not announced on Monday. Providence is Oregon's largest private employer.
As part of the deal, Providence Park will host the first Special Olympics Oregon Fall Games since 2008.
Jeld-Wen will continue to partner with the Timbers' community outreach programs.