Coloni has signed Brazilian driver Alberto Valerio for the 2010 GP2 Series.
The 24-year-old has spent the past two seasons in the championship with the Durango and Piquet teams, taking his first win at Silverstone last year.
Team boss Paolo Coloni said he had been impressed with Valerio's development during 2009 and was then convinced of his potential when he joined Coloni for a post-season test.
"During last year I followed his progress closely, and I noticed a clear growth," said Coloni. "I feel that in 2010, his third season in GP2, Valerio will show everybody that he is a complete driver, staggeringly fast but also very consistent, something that is really vital when you want to race for the championship.
"That's why I wanted him to drive our car in Jerez testing, where he did very well. I was satisfied with his great lap times, but apart from that I was surprised when I saw that the feeling with the team was immediate. Starting from this, I think that we have all that's needed to continue on the winning path that we traced in the last races of 2009, and this means that our objective is to fight for the title."
Coloni took control of his team again in late 2009 after it had run under the Fisichella Motor Sport banner for several years and scored a victory with Luiz Razia at Monza.
Valerio added: "2010 will be a key season for the fulfillment of the project I've been working on from when I was a child: becoming a Formula 1 driver. I think that Scuderia Coloni is the best team to achieve that, and I want to say thank you to all the people that believed in me in these years of racing."