The Jacarepagua circuit will be demolished to make way for an Olympic park if Rio de Janeiro is chosen as the venue for the 2016 Olympic Games.
The Brazilian city on Tuesday unveiled details of its third bid to stage the Games. Rio had previously bid for the 2004 and 2012 Games, failing to make the final shortlist on each occasion.
Jacarepagua last hosted Formula One in 1989, a race won by Nigel Mansell in a Ferrari.
The circuit also hosted a round of the CART series from 1996 to 2000 in an accessory oval track named Emerson Fittipaldi Speedway.
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