The company's support will allow the Cathedral to replace its existing halogen light bulbs with around 250 energy-efficient, long lasting LED's.
It is estimated that this will reduce the Cathedral's electricity use by 21 per cent.
The 901-year-old Cathedral has been promoting the need for urgent action to curb the effects of climate change and hosted an art exhibition this summer with a seven metre model of Earth (called Gaia) to encourage people to think about caring better for the planet.
Very Rev Chris Dalliston, Dean of Peterborough, said: "Having the Gaia artwork displayed in the Cathedral has really focused our minds on what we can do to live more sustainably on our beautiful, God-given planet.
"As an organisation we are looking at ways in which we can improve our environmental impact, but to take the major step of replacing the lightbulbs in the Cathedral would simply be beyond our means, were it not for the generous support of Masteroast."
Masteroast, which is based in Peterborough, said it has a strong commitment to running its business in an environmentally sustainable way.
Its Chairman, Les Mills, added: "As an international company, Masteroast often hosts visitors from overseas and we love to bring them to see the Cathedral.
"It is a magnificent and unforgettable place and we are delighted to be able to help meet this practical need for low energy lighting.
"It is important for the business community to support the Cathedral and recognise that it is a vital part of the city's identity."
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