Council-owned event venue Manchester Central will welcome back the Conservative Party for its annual conference in 2013 and 2015.
The council claims the deal will be worth in excess of £55m for Manchester city region's economy.
Manchester Central will play host to the event itself, with surrounding hotels and venues providing delegate accommodation and rooms for fringe events.
Andrew Stokes, chief executive of Marketing Manchester, said: "This week, the city delivered another first class event for the Conservative Party. The success of the 2009 and 2011 conferences is testament to Manchester's partnership approach and we are thrilled to announce that this has enabled us to secure two future Conservative Party Conferences – 2013 and 2015 – for Manchester.
"Business tourism is vital to the Greater Manchester economy. Conferences such as these have a long lead time but it is important that we invest resource in winning these conferences now to ensure long term economic stability for tourism businesses."
Angie Robinson, chief executive of Manchester Central, said: "We have received wonderful feedback from delegates regarding Manchester Central and the warm welcome they have received from the city of Manchester. We are delighted the Conservative Party has chosen to return to Manchester Central for a further two conferences."
Business tourism was worth £573m to Greater Manchester during 2010. The figure represents the income to businesses in Greater Manchester from the 4.2m delegates that came to the city and the 56,900 business events they were attending.