Michael Waltrip will compete in next month's Daytona 500, diving the No. 30 Toyota for Swan Racing.

Waltrip, who won the Daytona 500 in 2001 and '03, will drive the car in the Feb. 24 season-opening race at Daytona International Speedway before David Stremme is behind the wheel for the remainder of the 2013 Sprint Cup Series season.

This year's Daytona 500 will mark Swan Racing's debut in Sprint Cup since announcing its new ownership earlier this month. Waltrip will be reunited with former crew chief Tony Eury Jr. Steve Hmiel, who has also worked with Waltrip in the past, was recently named competition director for the team.

"I am thrilled to drive the No. 30 Toyota for Swan Racing and the chance to win a third Daytona 500," Waltrip said. "Reuniting with Tony Jr. and Steve Hmiel brings back a lot of good memories and is going to create new ones."

Waltrip qualified for 25 consecutive Daytona 500s from 1987 to 2011. He failed to qualify for last year's race, driving the No. 40 Toyota for Hillman Racing.

Waltrip is the co-owner of Michael Waltrip Racing, which owns three teams in NASCAR's premier series. He is scheduled to drive the No. 55 car in both Talladega races and the July event at Daytona.

Sprint Cup teams are testing at Daytona Thursday through Saturday, familiarizing themselves with the new 2013 car and preparing for the Daytona 500.