Formula Renault 3.5 race winner Egor Orudzhev will remain with Arden Motorsport for the series' first season as F3.5 V8 in 2016.
The 20-year-old Russian won at the Hungaroring and Le Mans this year on his way to fifth overall as a rookie with team.
He finished second at the season finale and continued with Arden for post-season testing.
"Next year could be a very good year, I am aiming to fight for the top three positions at every round and of course fight for the championship," said SMP-supported Orudzhev.
"I have good knowledge of the car now and working with the team, so I am more confident going into a second season.
"It will be good to continue in the manner that we finished the 2015 season."
Arden's general manager Julian Rouse said the team was pleased to be able to build on a successful first year in the category for the youngster, calling him "a revelation".
"I think it has opened people's eyes to his talent and also shows the high level that our team works to as it is was the second season in a row we had fantastic results with a rookie driver," he said.
"If we can build on the consistency which naturally comes in a driver's second season in a category, then the championship title is definitely a realistic target."