Seven-time Formula 1 World Champion Lewis Hamilton will complete a shock move to Ferrari in 2025 on a "multi-year" contract.
The Briton has opted to end his tenure at Mercedes where he became the most successful F1 driver of all time.
He is now set to partner Charles Leclerc at Ferrari after the Monegasque penned a contract extension earlier this year.
Hamilton joined Mercedes in 2013 and won six World Championships with the Brackley-based squad, bringing his race-win tally to 103.
However, Mercedes has endured a difficult duo of seasons since the introduction of new technical regulations and has been competing down the order while rivals Red Bull have dominated.
In a simple statement, issued 13 minutes after Mercedes formally announced Hamilton's departure, Ferrari said that: "Scuderia Ferrari is pleased to announce that Lewis Hamilton will be joining the team in 2025 on a multi-year contract."
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Hamilton has long been linked with a switch to Ferrari but has always played down such suggestions while asserting his commitment to Mercedes.
The 39-year-old signed a two-year extension with Mercedes only a handful of months ago but it now appears that the second season was an option.
Ferrari was the only team to defeat Red Bull last year with Carlos Sainz who emerged victorious at the Singapore Grand Prix.
Sainz will now part ways with the Italian outfit at the end of the season having linked up with it in 2021.
Ferrari has endured its own challenges in recent years and has not taken a title since the 2008 season when it prevailed in the Constructors' Championship.
Ferrari ended last year's F1 campaign third in the standings, one position down on Mercedes.