Sri Lanka Cricket President Mohan de Silva said the deal will ensure a smooth cash flow for the sport's governing body while it will also get an undisclosed up front payment from Ten Sports.
"I am not at liberty to give details of the contract, but we have agreed on a payment schedule that will take care of our cash flow requirements for the next four years," de Silva said. "This is a very attractive deal for us."
However, cricket sources told AFP the total value of the contract was in excess of 50 million dollars.
Under the deal, Ten Sports, will have exclusive TV and broadcasting rights of all international cricket matches played in Sri Lanka for four years from January.
There will include a minimum of 25 Tests and 39 one-day internationals during this period.
In September, the Board of Control for Cricket in India cancelled a controversial four-year 308-million-dollar television deal with Zee Telefilms, India's largest media company, after a challenge in the Bombay High Court by rival pan-Asian network ESPN-Star Sports.