McLaren's Carlos Sainz will drive for Ferrari in the 2021 and 2022 seasons of the Formula 1 World Championship. He has replaced Germany's Sebastian Vettel who has announced he will leave Ferrari at the end of the 2020 season.
Earlier on Thursday, Renault's Daniel Ricciardo was confirmed as the driver who will in turn replace Sainz at McLaren team from next year.
"I am very happy that I will be driving for Scuderia Ferrari in 2021 and I'm excited about my future with the team," said Sainz, who finished an impressive sixth in last year's championship.
Ferrari boss Mattia Binotto said: "We've embarked on a new cycle with the aim of getting back to the top in Formula 1. It will be a long journey, not without its difficulties, especially given the current financial and regulatory situation, which is undergoing a sudden change and will require this challenge to be tackled in a different way to the recent past.
"We believe that a driver pairing with the talent and personality of Charles and Carlos, the youngest in the past fifty years of the Scuderia, will be the best possible combination to help us reach the goals we have set ourselves."
Born in Madrid in 1994, Carlos has plenty of Formula 1 experience, having taken part in 102 World Championship Grands Prix, over five seasons.
Zak Brown, CEO, McLaren Racing, said: "He is a real team player and we wish him well for his future beyond McLaren."
( With inputs from IANS )