The electron spin dynamics in (111)-oriented GaAs/AlGaAs quantum wells is studied by timeresolved photoluminescence spectroscopy. By applying an external field of 50 kV/cm a two-order of magnitude increase of the spin relaxation time can be observed reaching values larger than 30 ns; this is a consequence of the electric field tuning of the spin-orbit conduction band splitting which can almost vanish when the Rashba term compensates exactly the Dresselhaus one. The measurements under transverse magnetic field demonstrate that the electron spin relaxation time for the three space directions can be tuned simultaneously with the applied electric field.