The Minister of Canadian Heritage and Official Languages James Moore announced the appointment on Friday.
Lacroix said his reappointment will allow the CBC to continue "building the public broadcaster of the future."
“In reappointing me today to a five-year term … they are also endorsing this strategic direction, which calls for the public broadcaster to become more distinctly Canadian in its national programming, more present in all regions of the country and to act as a catalyst for the digital transformation of the media landscape," he said in a statement.
Lacroix, a Montreal lawyer, started his first term as CBC president and CEO in 2008.
Prior to taking on the role, Lacroix practised law for three decades in Montreal.
He also served as executive chairman of Telemedia Corporation from 2000 to 2005.