The news was first reported on Monday by the Sports Business Journal.
According to the report, the extension will exceed two years, though details were not disclosed.
One major component of the new deal will allow Versus.com to air preliminary bouts, though the report indicates the fights will not be streamed live.
The WEC has aired 12 events on Versus since debuting on the network with WEC 28 in June 2007. WEC 40, which is headlined by WEC bantamweight champion Miguel Torres vs. Takeya Mizuki, will air on the network on April 5th followed by WEC 41, featuring WEC featherweight champion Mike Brown in a rematch with Urijah Faber, on June 7th.