Lima 2019 has named LATAM as the official airline of this year's Pan American and Parapan American Games.
LATAM will be responsible for flying 13 countries' delegations of athletes, National Olympic Committee representatives and technical officials to and from Peru's capital this summer.
The agreement was signed by Lima 2019 President Carlos Neuhaus, Panam Sports President Neven Ilic and LATAM Airlines general manager Manuel van Oordt.
The signing ceremony, held in Lima, was also attended by Peruvian Olympic Committee President Pedro del Rosario and several Lima 2019 sports ambassadors, including footballer Héctor Chumpitaz, Para-badminton player Pilar Jáuregui and karateka Alexandra Grande.
Grande and several of her karate team-mates staged a sports demonstration, which also featured the Lima 2019 mascot, Milco.
Under the agreement, LATAM Airlines will transport the delegations of Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, Dominican Republic, Ecuador, Haiti, Mexico, Paraguay and Uruguay - a total of 4,904 people.
Ilic stressed that Lima 2019's chief priority is the athlete experience and that LATAM would play an important role in optimising it.
"It is hugely significant for us that a company with the international reach and capabilities of LATAM has thrown its support behind Lima 2019," he said.
"LATAM has a long track record of proven success and we are proud to be entering into partnership with them.
"LATAM will be an important asset for Lima 2019 as we work together to deliver an exceptional Games."
Neuhaus added: "This agreement is about true partnership, not just a logo.
"Lima 2019 and LATAM have already held meetings to explore ways we can work together to ensure maximum comfort and convenience for the athletes.
"The athlete experience is about so much more than the bricks and mortar, and we look forward to drawing on all of LATAM's experience when it comes to getting every last detail right."
LATAM Airlines will use "Arriba Latinoamérica" as the official slogan of its campaign to promote Lima 2019.
Van Oordt said working with Lima 2019 represents a special opportunity to support the Americas' finest athletes.
"It is an honour to take on the huge responsibility of flying these athletes to the Games and we are grateful to Panam Sports and Lima 2019 for the opportunity to play our part in the success of this magnificent event," he said.
"Lima is our centre of operations, our home and our most important hub, so we are delighted to participate in the city's greatest ever sports celebration."
LATAM will also be responsible for bringing the Pan American Torch from its starting point at the ruins of Teotihuacán in Mexico to Machu Picchu, where it begins its journey across Peru.
It will select a number of people to accompany the Torch Relay and the airline will also arrange competitions that give entrants the chance to win Lima 2019 tickets.
The Pan American Games, scheduled to take place from July 26 to August 11, will see approximately 6,700 athletes from 41 countries compete in 39 sports and 62 disciplines.
The Parapan American Games will see 1,890 athletes compete in 17 sports and 18 disciplines from August 23 to September 1.