Pirelli will continue as Formula 1's official sole tyre supplier until 2024 after the FIA announced it had extended the contract by one year.
The decision was confirmed at a meeting of the World Motor Sport Council on Friday.
"The World Council has agreed to grant a one-year extension to the existing exclusive tyre supply contract with Pirelli to reflect the original intention of the 2018 tyre tender and remain within the overall technical framework in the best interests of all relevant stakeholders," read a statement from the FIA.
""The COVID-19 pandemic obliged the FIA and Formula 1 to implement emergency measures that included the cancellation of tyre development tests last year and the postponement of planned new technical regulations – which included 18-inch tyres – from 2021 to 2022.
"As a result, 13-inch tyres will be used during the 2021 season, with a move to 18-inch tyres in 2022."
In a conversation with RacingNews365.com back in February, Pirelli boss Mario Isola explained that having a second tyre supplier wasn't in the best interests of the sport and the teams.
"The second tyre manufacturer is a completely different situation where you have to develop tyres more or less every day," Isola explained. "It is very expensive for the teams because in the past, they were dedicated to tyre development. And this particular situation, and especially now with a pandemic, it probably isn't the right approach because of the cost. We are talking about cost gap and so on so going into a tyre war is not really the right direction."