The current financial deal had been due to run out on Wednesday but will now continue until at least July 28.
The mayor of London, Sadiq Khan has repeatedly warned that if a long term funding deal cannot be secured, the network will head into “managed decline”.
There have been repeated rows with the government over the funding of TfL and the cause of its financial woes.
In total the government has provided £5bn of funding to TFL since the start of the Covid-19 crisis.
In a statement on Wednesday Mr Khan said: “Today, the government has given TfL another short-term extension – of just a few weeks – to the current emergency funding deal.
“This short extension is only necessary because the government has still not put forward any proposals for discussion on the long-term funding London needs.
“I am growing increasingly concerned that we can’t wait any longer without serious consequences.
“This is a £10bn transport authority that is crucial to supporting jobs and economic growth.
“Without a long term funding deal, TfL will have to prepare to make further painful cuts to London’s transport network - its ‘managed decline’ scenario.
"The devastating impact of the pandemic is the only reason TfL needs financial support.
“It is now imperative that the government urgently works with me to agree a fair, long-term funding deal that will protect London’s transport network – not just for the sake of the capital, but the whole country."
A TfL spokesperson said: "We continue to discuss our funding requirements with the government.
“There is no UK recovery from the pandemic without a London recovery and there is no London recovery without a properly funded transport network in the capital.
“It is essential London receives the sustained long-term government funding that is vital for the coming years if a period of ‘managed decline’ of London’s transport network is to be avoided.
"We have today (July 13) agreed with the government that our existing funding agreement will be extended until July 28 so these discussions can be continued.
“Whilst in receipt of government support, we have worked hard to progress all conditions placed on TfL, and continue to maintain that we have met them all.
“Working together, we must achieve a longer term capital funding settlement that ensures London’s transport network can remain reliable and efficient, can support the jobs and new homes that rely upon it and can support the economic recovery of the capital and the country as a whole.
“We hope these discussions can be concluded successfully soon."
A spokesperson for the DfT said: "TfL have been unable to provide information sufficiently demonstrating that conditions outlined in the current settlement are on track and reassure the government that any long-term settlement will be in the interest of all UK taxpayers."