The move comes amid preparations for broadcasting the European festival of football with a total of five British sides involved across the two competitions returning on August 5.
The broadcaster will show 26 games across just 19 days including both finals, which will be broadcast on their website, the BT Sport App as well as their YouTube page.
BT Sport has said both the Champions League and Europa League finals will be shown for free
Crowd noise will also be provided as an option for viewers from the quarter-final stages onwards.
BT Sport will also launch a new show called Club 2020 Daily with James Richardson, to look back at the previous night’s action as well as looking ahead to the day’s matches.
Simon Green, head of BT Sport, said: ‘August is shaping up to be a fantastic month for football fans with a festival of top-class European action.
‘Every game will be available to watch live for BT Sport viewers plus our brand new show, Club 2020 Daily with popular host James Richardson, which will be available to watch for free and will include special on-location features as well as all the latest news, match highlights and topical chat.’
Manchester City beat Real Madrid in the first leg and may go on to win the Champions League
The festival of football kicks off on August 5 with Manchester United taking on Austrian side LASK, before Rangers and Wolves feature a day later, with the former looking to overturn a two-goal deficit against Bayer Leverkusen while the latter will look to complete the job against Olympiacos after a draw in Greece.
Champions League football returns on August 7 with Manchester City facing LaLiga champions Real Madrid following their 2-1 victory in the Spanish capital, while Juventus will look to overturn their one-goal deficit against Lyon.
Chelsea will also be hoping for a miracle the following evening after their 3-0 home defeat to Bayern Munich in February.
The quarter-final stage of the UEFA Champions League will follow the Round of 16 fixtures taking place August 12-15, with the semi-finals on August 18 before the final showpiece from the Estadio da Luz on Sunday August 23.
Their rivals Manchester United are also definite contenders to win the Europa League
The Europa League’s Round of 16 second legs on August 5 and 6 will be followed by the quarter-finals four days later on August 10 and 11.
The final four will face off in the semi-finals on August 16 before the last two teams in the competition fight it out for the trophy and possible Champions League qualification in Germany on Friday August 21.
On the two finals, Richard Lewis, YouTube’s head of partnerships, UK said: ‘We are delighted to continue our partnership with BT Sport and extend the opportunity for fans to enjoy one of the most popular annual events on the UK sporting calendar.
‘It’s a great spotlight for BT Sport’s channel which already has a treasure trove of Premier League and UEFA football highlights for fans to enjoy.’
Wolves will be hoping to get past Olympiacos after Pedro Neto helped secure a draw in Greece