Alfa Romeo will retain its line-up of Kimi Raikkonen and Antonio Giovinazzi next season.
It marks the third successive year the two will be teammates.
Initially, Formula 2 points leader Mick Schumacher looked set to take one of the two seats at the team next year. He was expected to make his FP1 debut with the team in the washed out Eifel Grand Prix at the Nurburgring.
Schumacher is now set to join Ferrari’s second junior team Haas who dropped its pairing of Romain Grosjean and Kevin Magnussen last week.
41-year-old Raikkonen surpassed the record for the most amount of Grands Prix starts earlier this year and will celebrate his 19th season in F1 next year at the team he made his debut with back in 2001.
The 2007 world champion has made no intention of retiring this year, saying the motivation to continue on with the team is as high as ever.
“Alfa Romeo Racing is more than a team to me, it is like a second family,” said Raikkonen.
“So many of the faces that were around me when I made my F1 debut in 2001 are still here and the unique atmosphere of this team is what gives me that extra motivation to keep going in what will be my 19th season in the sport, next year.
“I wouldn’t be here if I didn’t believe in the team’s project, and in what we feel we can achieve together. This is a team that values hard work over words and this fits well with my style: I am looking forward to next year and hopefully making some steps forward towards the front of the midfield with the team.”
Giovinazzi sits just one place ahead of Raikkonen in the standings after a troubled year for the Swiss team.
The Italian racer has been dogged by reliability dramas this season, as well as a lack of form in qualifying.
“Alfa Romeo Racing has been my home in F1 for the last two seasons,” said Giovinazzi. “And I am happy this relationship can continue for one more year.
“The team has put a lot of faith in me and I have done my best to repay this confidence with hard work and commitment.
“We have achieved some good results and I feel I have done my part to make the team progress, but the road ahead is still long and there is much more we want to achieve together.
“There will be a lot of continuity between this season and the next one, so everything we work on between now and the end of the year will already count for next, and we are ready to give it all we have.”
The team will run a tweaked livery this weekend for the Emilia Romagna Grand Prix at Imola as it celebrates the announcement that the Alfa Romeo name will carry on with the team into next season.