Team boss Adrian Valles, a race winner in the series in 2005, said: "After several months of hard work assembling the new team we are pleased to be able to announce our drivers before Christmas.
"It is a pleasure to have Yann and Arthur on board for the 2013 season and we believe that both will do a great job for the team."
Pic, who finished eighth in the championship this year with DAMS, said AV's appointment of ex-GP2 engineer Philippe Gautheron - who worked with his brother Charles at Addax - was a key factor in his decision.
"I'm thrilled to have signed with AV Formula and am already eager to resume testing with the team," said Pic.
"In particular, the opportunity to join Philippe Gautheron was simply to good to pass up. He is one of the top engineers outside Formula 1 and his results in GP2 speak for themselves.
"Adrian meanwhile has an outstanding record in single-seater racing, not least with his Superleague Formula title (for Liverpool in 2009) and his runner-up finish in FR3.5 (in 2005), and he is now translating that success into team management."
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