The base level of the Premiership's salary cap for the 2018-19 and 2019-20 campaigns will remain at £7m.
The salary cap limit currently stands at £6.5m, but this will rise to £7m at the start of the 2017-18 season.
"We have a very strong and highly competitive league," Premiership Rugby chief executive Mark McCafferty said.
"The salary cap framework is essential to maintaining its strength and protecting the competitive uncertainty which is its hallmark."
The board of Premiership Rugby decided unanimously to retain the level of the cap at £7m, following the increases for next season announced in October 2015.
The decision will be welcomed by some club bosses, who are concerned that a continuous rise in the salary cap will lead to wage inflation.
In July, McCafferty warned the league must monitor player wage inflation after the Rugby Football Union and the Premiership signed a new agreement regarding access to England players worth in excess of £225m.
Premiership salary cap 2017-18 to 2019-20
- Basic cap will be £7m, up from £6.5m in the 2016-17 season.
- Clubs can nominate two players to be excluded from the salary cap.
- Clubs will receive £600,000 - up from £500,000 - in academy credits, for players who are under the age of 24, joined before their 18th birthday and are earning more than £30,000 a year.
- Clubs can apply for one injury replacement when one of their players has been injured for a period of 12 weeks or more.
For the latest rugby union news follow @bbcrugbyunion on Twitter.