McLaren's Carlos Sainz will replace Sebastian Vettel at Ferrari at the end of the 2020 F1 season.
The news was confirmed on Thursday, just days after Vettel announced he would be leaving the Prancing Horse next year.
"I am very happy that I will be driving for Scuderia Ferrari in 2021 and I'm excited about my future with the team," said Sainz.
"I still have an important year ahead with McLaren Racing and I'm really looking forward to going racing again with them this season."
Sainz was in talks over an extension to his McLaren contract which would have taken him beyond 2020, but the lure of signing for one of racing's top teams proved too big a draw.
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Daniel Ricciardo replaces Sainz at McLaren in a domino effect which could have further repercussions down the chain.
Vettel and retired two-time world champion Fernando Alonso are both being linked with filling the seat alongside Esteban Ocon at Renault.
It also means Lewis Hamilton will not be joining the Italian giants.
Sainz after starting his career at Torro Rosso, moved to Renault in 2017, before joining McLaren last year.
Ferrari team principal Mattia Binotto declared: "With five seasons already behind him, Carlos [Sainz] has proved to be very talented and has shown that he has the technical ability and the right attributes to make him an ideal fit with our family.
“We believe that a driver pairing with the talent and personality of Charles and Carlos, the youngest in the past fifty years of the Scuderia, will be the best possible combination to help us reach the goals we have set ourselves."