A1GP has agreed a deal with Ferrari for a supply of engines for their series for six years from the start of the 2008/2009 season.
Following months of discussions, A1GP chairman Tony Teixeira confirmed the news this morning, as well as announcing that Ferrari will consult the series on the design and manufacture of chassis.
Speaking about the deal, Teixeira said: "Partnering with a world-class organisation like Ferrari will officially position A1GP as one of the most significant motorsport series in the world.
"Ferrari will add significant value to our brand and in our opinion there is no better partner to progress the series.
"We will be meeting with our commercial partners over the next few weeks to discuss the multitude of exciting opportunities that this partnership presents.
"Ferrari has a global presence through its dealer network. We will be working closely with them to ensure that they are a part of every A1GP World Cup of Motorsport event."
A1GP has also announced the formation of A2GP, a regional championship that Ferrari will also be involved in.