Kimi Raikkonen will return to Ferrari as a replacement for Felipe Massa, giving the Formula One team a new partner for Fernando Alonso and two top drivers for next season.
The expected move came a day after Massa announced he will leave Ferrari following the seven final races of this season.
The 33-year-old Raikkonen, who currently drives for Lotus, had been heavily linked with a return to Ferrari. The Finn raced for Ferrari from 2007-09, and his title in 2007 was the last time Ferrari won the driver's championship.
Alonso and Raikkonen have won three Formula One titles and 52 races between them.
Ferrari apparently wanted to strengthen its lineup for 2014, when the F1 regulations change dramatically with the introduction of new 1.6-liter V6 turbo engines.