The 2014 Tour of Britain will take place from Sunday 7th to Sunday 14th September.
Commenting on the news, SweetSpot Race Director, Mick Bennett, said:
"We are delighted by today's announcement, which comes as a culmination of ten year's hard work by the SweetSpot team.
"The award of 2.HC status is another step forward for The Tour of Britain, and we look forward to this September's edition of the race being the best yet.
"The upgrade is also a reward for the many hundreds of thousands of spectators who have lined the route and cheered on the race over the past decade."
Reacting to the announcement, Cyclesport and Membership director Jonny Clay said:
"We're delighted that The Tour of Britain has attained a place alongside some of the most historic races on the global cycling calendar.
"Credit must be given to SweetSpot for their stewardship of the race to date and we look forward to working with them over the next five years to continue the growth of the event as both a monument of the sport and as a British sporting success.
"This is a well-deserved recognition of the status of the sport in Britain and of the work that British Cycling has done to put Great Britain amongst the top cycling nations in the world."
The reputation of The Tour of Britain has been growing in recent years with larger crowds watching increasingly high-profile fields. Last year's event was won by Sir Bradley Wiggins, as he overcame a field that also included Tour de France stage winners such as Mark Cavendish, Nairo Quintana and Dan Martin.
Further details of the 2014 Tour of Britain will be announced at the race's National Launch in the Spring.