GP2 organisers announced on Friday the launch of the new GP3 series, which will kick off in 2010 and that will take place during GP2 race weekends.
In a brief statement, organisers said the new championship will be a "stepping-stone into GP2 Series".
The announcement comes just a day after Jonathan Palmer revealed full details of the relaunched FIA Formula Two championship, which will start next season.
It had previously been thought that the existing Formula Master championship, which runs as a support series to the World Touring Car Championship, would be rebranded GP3 and join the Formula One calendar next season, but now the GP2 bosses have announced that GP3 will be a new category featuring 250 horsepower single-seaters with two-litre engines, the same specification as FMaster, and will not appear for another year.
"The chassis, the engine and the tyres will be decided after a consultation with the manufacturers who have shown interest in supporting GP3," said a statement from the GP2 Series.
No more details were revealed, but GP2 boss Bruno Michel said he hoped GP3 would emulate the success of GP2.
"The philosophy behind GP3 Series will be very similar to what we did in GP2 regarding the performance of the car, the control of the costs, the show, the safety and the training to access to the following category, but adjusted to the level of this new Series," said Michel.
"We will make sure that this Series will be as successful as GP2 in revealing young drivers able to jump to the next step. We are looking forward to 2010!"
Formula One supremo Bernie Ecclestone added: "After the tremendous success of the GP2 Series, I believe this GP3 Series will be an opportunity for drivers, engineers and mechanics who are making their way to Formula One. I wish good luck to this Series."