The group, which has a long relationship with FirstGroup, is also trialling an advertising method in York which will see single-deck buses with double-deck ad space on top.
The first company to sign up for the scheme is the York Museum Trust.
Charlotte Dootson, marketing manager for the Trust said: "We are delighted to be the first organisation to take advantage of this new eye-catching display.
"We have worked with CBS Outdoor for more than five years, and firmly believe bus advertising has helped us maximise awareness of new exhibitions and events."
Jason Cotterrell, commercial director at CBS Outdoor UK, added: "The FirstGroup partnership continues to flourish as both companies work to develop new products."
He said that the renewed five-year contract demonstrated the group's confidence in CBS to successfully manage its advertising asset.
CBS Outdoor manages the ads for all of FirstGroup's rail franchises including First Great Western, First Capital Connect, First Scotrail and First TransPennine Express.
In February this year, CBS Outdoor International, owned by CBS Corporation, posted a 93% fall in pre-tax profits for Q4 2008, blaming revenue declines and increased transit costs.
CBS Outdoor holds on to 140m FirstGroup contract
CBS Outdoor has retained its 140m contract to sell advertising space on FirstGroup's buses as it prepares to trial new advertising opportunities.