The deal begins in 2015. The $300 million average annual fee is up from the $225 million Fox has been currently paying.
It includes "TV Everywhere" rights that allow Fox to live stream its races beginning with the 2013 season-opening Daytona 500.
Fox gets the first 13 Sprint Cup Series races under the deal, and the entire Camping World Truck Series.
ESPN and Turner hold the rights on the remainder of the schedule through 2014, and exclusive negotiations with NASCAR do not begin until next summer.