Pirelli will be F1's exclusive tyre supplier for 3 years starting next season.
The FIA has announced that Pirelli has been picked as Formula 1's sole tyre supplier for three years from the start of the 2011 season. Pirelli had emerged as a strong favourite for the deal in the wake of Bridgestone's decision to pull out after this year's campaign.
"Pirelli has been selected as the single tyre supplier for the FIA Formula One World Championship for a period of three years, commencing in 2011," said an FIA statement.
"The sole supplier will undertake to strictly respect the sporting and technical regulations implemented by the FIA."
Fellow former F1 supplier Michelin ended up as Pirelli's closest rival for the deal, with Cooper Avon having been the other main contender. Pirelli has 44 F1 wins to its credit from several previous periods in the sport, starting in the 1950s. It was last on the grid in 1991.