House of Fraser has signed a new long term lease on its store at Victoria Square in Belfast.
It has also committed to spending £10m to upgrade the store.
There had been some doubt over the future of the shop after House of Fraser was bought by Mike Ashley last year.
The firm said the owner of Victoria Square, Commerz Real, had been 'very proactive and reasonable'.
House of Fraser employs more than 500 full, part-time and concession staff in Belfast.
The Belfast store is the 42nd store to have its lease extended since House of Fraser was bought by Sports Direct.
Design agencies have been selected for the department store's renovations, which are due to start in mid-2019.
Michael Murray, head of elevation at Sports Direct, said the move marks "a significant moment in the turnaround of House of Fraser".