The Sauber team has announced that Mexican Sergio Perez will race alongside Kamui Kobayashi in the 2011 season.
The 20-year-old, who is currently in second place in this year's GP2 championship, will become the first Mexican Formula 1 driver since Hector Alonso Rebaque, who competed in grand prix racing from 1977 to 1981.
Perez, who is yet to drive Formula 1 machinery, has raced in GP2 and GP2 Asia since late-2008, having won the British Formula 3 national class championship in 2007.
"Formula 1 is the dream of every young racing driver," said Perez. "And now this dream is about to come true for me.
"Although I'm very much aware that this is also a big challenge and responsibility, I'm happy to accept that and am proud to be representing my country in the highest category of motor racing.
"I would like to thank Peter Sauber for the faith he's shown in me and I'll do everything I can to make the most of this wonderful opportunity."
Peter Sauber added: "Sergio has been on a continuous upward curve over the past few years. He demonstrated his fighting spirit in races over the course of last season and proved that he's ready to take the step up into Formula 1.
"I look forward to working with him and am in no doubt that, in Sergio Perez and Kamui Kobayashi, we will have a strong driver pairing."
The Swiss squad also announced a partnership with Telmex, the Mexican telecommunications giant owned by Carlos Slim.
The company's logos will appear on the Swiss car starting from next year.
"Sauber has been not only a very successful racing team but also a strong talent developer of some of the most recognised names in racing since their early stages as well as one of the most respected people in the sport," said Telmex chairman Carlos Slim Domit, the eldest son of Slim.
"Their decision of having Sergio with them is very significant on his career to become a top driver representing Mexico. For Telmex and our racing project Escuderia Telmex it's a great step forward, and we feel very proud to be able to consolidate these years of work for having a Mexican driver in F1 with Sauber Motorsport."
Sauber continued: "Telmex has been involved in motor sport for a number of years already and supports drivers in various race series. Now they are making the key step up into the top category of motor racing, and we are happy and proud that they are taking this step with us.
"Telmex is an outstanding company and represents a strong partner for our team. We are looking forward to a fruitful partnership."