The new deal, which includes significant coverage of the Big Bash Twenty20 league, women's cricket and digital streaming rights to Foxtel, replaces a five-year, A$590 million contract struck in 2013 that gave broadcast rights to free-to-air stations Nine and Ten Network.
Cricket Australia says the deal is worth nearly $1.2 billion over six years.
Nine's loss of cricket comes after it won Australian tennis broadcasting rights in a $300 million coup, ending Seven's four-decade hold on televising the Australian Open.
This revolutionary deal will enable increased investment in grassroots cricket through our programs and further developing facilities, expanding new participation formats to grow junior cricket, supporting clubs and associations to grow the game for women and girls and more investment in the talent pathway to develop Australia's next generation of cricketers.
"We are delighted to have them as partners; they are committed to us rebuilding that trust and confidence, not just for Cricket Australia as an organisation and cricket as a sport but also through our players".
Fox Sports gets men's Tests, men's ODIs, men's T20Is, women's internationals, all BBL games, 23 WBBL games, AB & BC Medal Night, PM's XI & GG's XI matches, Sheffield Shield final, 13 One-Day Cup matches and digital partnership with Cricket Network as part of its pie from the mega-deal. This partnership will bring more content than ever to Cricket Australia Live App and cricket.com.au users.
"Cricket has and will always be Australia's premier summer sport and Seven now is in the enviable position as being the first and only free-to-air broadcaster covering both it and the AFL".
"Network Ten turned the Big Bash League into the television phenomenon it is today and one of the most popular sports in Australia, a sport that all Australians were able enjoy for free", Ten CEO Paul Anderson said in a statement.
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Foxtel chief executive Patrick Delany said a "very small amount" of cricket would be on pay-TV only and promised to "do for cricket [now] what we've done for cricket in 2011 when we invented the Big Bash League".
"In response to media speculation concerning cricket rights, Seven West Media Limited advises that it has been informed by Cricket Australia that it is the successful bidder with Foxtel", a statement posted to the ASX said.
It essentially means Seven has paid $80m for simulcasting rights.
In recent years, Ten has played a pivotal role building the Big Bash League through its family-friendly brand of commentary after the competition had struggled to resonate in its earlier years on Fox Sports.
In other major cricketing nations, such as England, cricket is mostly broadcast on pay TV, such as Sky Sports with only highlights aired on a FTA television.
Seven and Fox Sports will broadcasting all test matches simultaneously. We know Australians love and respect cricket and so do we.
"We had planned to extend that innovation to other forms of the game".
"It will be cricket like they have never experienced before".