The IRL IndyCar Series' feeder category has been relaunched as Indy Lights following the IRL's merger with Champ Car and the return of title sponsor Firestone.
The tyre manufacturer previously backed Indy Lights between 1991 and 2001, until the series disbanded and became the Indy Pro Series in 2002, and Firestone reduced their involvement to a supplier.
IRL boss Tony George is pleased to see the brand, which also supports the IndyCar Series and Indy 500, return to support the junior category.
"Firestone have been one of the most loyal suppliers to open-wheel racing - their involvement dates back to the first Indy 500 in 1911," he said.
"They have supported the development series in both CART and the IRL, which demonstrates their commitment to the future."
Firestone's Al Speyer added: "Tony George asked us to step up and support the sport even more than we have done in the past. With the unification of open-wheel racing, we thought it the perfect time to merge the IRL's growing support series with the rich history of Firestone Indy Lights.
"One of the most noticeable results of this agreement is that participants will see an increase in prize money of more than $250,000 throughout the season."
Current IndyCar drivers Tony Kanaan, Oriol Servia, Scott Dixon, and Townsend Bell are all previous champions of the Indy Lights series, which was also a stepping stone for Indy 500 winners Dan Wheldon and Helio Castroneves.