As reported by earlier this week, the reigning European Formula 3 champion had been close to formalising his entry into the Ferrari Driver Academy.

Ferrari has now confirmed Schumacher’s FDA deal, and announced that he will be joined by fellow Formula 2 racers Callum Ilott and Giuliano Alesi, plus Marcus Armstrong, Robert Shwartzman, Enzo Fittipaldi and Gianluca Petecof.

F2 race winner Antonio Fuoco and long-time European F3 racer Guan Yu Zhou, who will join the F2 grid this year, are no longer listed among FDA members.

Ferrari's new F1 team principal Mattia Binotto was an engineer at the Maranello team when Michael Schumacher enjoyed his run of five straight titles from 2000 to 2004.

Binotto said: “For someone like me who has known him from birth, there’s no doubt that welcoming Mick into Ferrari has a special emotional meaning.

“But we have chosen him for his talent and the human and professional qualities that have already distinguished him despite his young age.”