Renault has confirmed that Romain Grosjean will see out the season for the French car manufacturer, after the team finally acknowledged it was parting ways with Nelson Piquet on Tuesday.
As AUTOSPORT predicted last week, Grosjean has been given the nod to step up to F1 as Fernando Alonso's team-mate, after the team felt it could no longer continue with Piquet.
The news could only be confirmed after Renault's participation in this weekend's European Grand Prix at Valencia was assured by the FIA International Court of Appeal.
Grosjean, who was Renault's official reserve and test driver, has endured mixed fortunes in the GP2 Series this year - taking two victories but also getting involved in a number of incidents.
Renault team boss Flavio Briatore said he was confident, however, that Grosjean would be able to demonstrate the talent that helped him to the 2007 Formula 3 Euro Series and 2008 GP2 Asia Series titles.
"We are happy to give Romain the chance to start racing with the team," said Briatore. "He is an impressive young talent and we expect him to show his skills driving alongside Fernando as we take an aggressive approach to the second half of the season.
"We would also like to thank Nelson for his contribution during the time he has been with us and wish him all the best for the future."
Grosjean said he was delighted at the opportunity to race in F1, and was not worried about the prospect of racing alongside Alonso.
"I am very proud that the Renault F1 Team has given me the chance to become a race driver," he said.
"I'm looking forward to driving the R29 and helping the team get the best results possible. It's also an honour to be Fernando's team-mate and to make my Formula 1 debut alongside a double world champion is especially motivating."
GP2 Series front-runner Lucas di Grassi will now become Renault's official reserve driver.