NAPA Auto Parts has signed a major multi-million dollar deal to sponsor Hendrick Motorsports driver Chase Elliott in the Nascar Sprint Cup Series.

The auto parts distributor will serve as primary sponsor of Elliott’s number 24 Chevrolet at 24 Sprint Cup races next year, including the season-opening Daytona 500.

The new three-year agreement, announced in Las Vegas on Tuesday, also includes associate sponsorship of all remaining races.

Though financial terms have not been released, the deal is likely to be worth upwards of US$30 million, based on comparable agreements in Nascar.

"I'm so fortunate to work with a company like NAPA," said Elliott, the defending Nascar Xfinity Series champion. "They've been behind me 100 per cent, and I never take that support for granted.

“Continuing the relationship means a lot, and I know the entire team is focused on making it as successful as possible. It's going to be a lot of fun."

Elliott is scheduled to drive in six Sprint Cup races this year, backed by NAPA, as he prepares to take over Hendrick’s number 24 car from Jeff Gordon, a four-time champion in Nascar’s top-tier series, next season.