The announcement was made over the weekend following the snap General Election.
Clark first took on the role in July 2016.
Taking to social media site Twitter, he said: “A privilege to serve as Secretary of State for Business, Energy & Industrial Strategy at an important time for the United Kingdom.”
Meanwhile, David Davis has been reappointed as Secretary of State for Exiting the European Union, and Liam Fox as Secretary of State for International Trade, and President of the Board of Trade.
Fox said he was “honoured and thrilled” to be reappointed.
Other cabinet appointments include: Sir Michael Fallon, who continues as Secretary of State for Defence, and Chris Grayling as Secretary of State for Transport. Michael Gove has also been appointed as Secretary of State for Environment, Food and Rural Affairs.