The Formula V8 3.5 Series will be revamped by joining forces with the FIA World Endurance Championship in 2017.
Jaime Alguersuari Sr's series, which has experienced a transitional season following Renault Sport withdrawing its backing at the end of 2015, will join the WEC for six of its nine rounds next year.
The calendar will feature long haul, WEC-headlined, events in Fuji, Bahrain and Mexico, along with European rounds at Silvertstone, Spa and the Nurburgring.
Teams' transport costs for the flyaway events will be covered by Densu Aegis Network, the media and marketing concern that acquired Alguersuari's RPM company last year.
"I am pleased to announce that this agreement with the FIA World Endurance Championship is the most exciting project of my professional career," said RPM president Alguersuari.
"Cost control has always been one of my biggest concerns in order to help the drivers, their families and sponsors.
"I have been always concerned with the development of the drivers' career as well.
"The new series, linked to the WEC, is a historic challenge because a single-seater championship of this level has never before offered such a wide international calendar at an affordable budget.
"Racing in the same major events where official manufacturer teams from renowned automotive brands such as Toyota, Audi, Porsche as well as Ferrari, Aston Martin, Ford and Corvette are competing in the world's leading endurance championship, will allow our talented drivers to show off their skills in front of a prestigious and knowledgeable audience.
"Therefore, making an effort to reach the agreement between the FIA WEC and RPM was definitely worth it."
Gerard Neveu, WEC CEO added: "It is very good news that the Formula V8 3.5 series will join the WEC race meetings from 2017.
"This single-seater championship has demonstrated for many years how very appealing and exciting it can be, while at the same time providing many great champions.
"It makes sense to offer to the new generation of drivers access to a well-established championship such as the WEC.
"The fact that the champions will have an opportunity to take part in the WEC's official rookie test at the end of the season will be additional motivation and a target for everyone on the grid.
"This combination of Formula V8 3.5 and sports prototype and GT cars, in the same place at the same time, will provide great racing over the same weekend, a real festival of motorsport."
The remaining three events on the nine-round calendar could accompany Jesus Pareja's GT Open/Euroformula Open series.
The championship's nine existing teams will receive priority for the entry slots to the new-look series, as a reward for their loyalty.
On the technical front, the current Gibson engines are set to receive an increase in capacity and power output to bring them closer to LMP1 machines.
In the category's previous incarnation as Formula Renault 3.5, future Formula 1 drivers such as Sebastian Vettel, Daniel Ricciardo, Carlos Sainz Jr, Kevin Magnussen and Stoffel Vandoorne competed in the category.