The deal for an "undisclosed amount" is for seven years and begins from the 2014-2015 season, the club said.
Chevrolet, which is made by General Motors, takes over from current sponsor Aon.
Manchester United was recently called the most valuable club in sport, worth $2.23bn (£1.43bn), according to Forbes magazine.
Chevrolet is only the fifth shirt sponsor in the club's history.
"This is a fantastic, long-term deal for the club," said Manchester United's commercial director Richard Arnold.
"They are a key partner on our current tour and I know they have enjoyed experiencing the buzz generated by our fanatical support and the sell-out crowds in South Africa, China, and Europe."
Earlier this month Manchester United applied to list on the US stock market in a share sale aimed at raising a minimum $100m (£64m).
The club has been controlled since 2005 by the Glazer family, the billionaire US sports investors who also own the Tampa Bay Buccaneers American football franchise.
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