The length of the deal was not confirmed, although it is said to be a "multi-year agreement" and is for the supply of Ferrari's "entire power unit". The Italian marque will also provide its gearbox and "overall technical support".

"There is no team in Formula 1 more accomplished than Scuderia Ferrari, and no team with more history. They've been a part of Formula 1 from the beginning, and now they will be a part of Haas F1 Team's beginning," said Haas F1 Team Chairman Gene Haas.

"Formula 1 is the pinnacle of motorsports. It showcases the latest technology and is the most competitive form of racing in the world.

"Aligning Haas F1 Team with such a tenured and successful company in Scuderia Ferrari provides our team with the greatest opportunity for success in 2016 and beyond."

Ferrari Team Principal Marco Mattiacci added: "We're delighted to announce this important strategic partnership with Haas F1 Team and to welcome an American player as a new entrant in Formula 1.

"A few months ago we joined forces with Gene Haas on a commercial level and this is the natural next step of our growing relationship.

"While our objective is to reinforce our power unit development programme for all our customer teams, we believe this new partnership has the potential to evolve beyond the traditional role of supplying our power unit and all related technical services.

"The United States continues to be one of the most important markets for Ferrari and it offers many interesting opportunities.

"We look forward to supporting Haas F1 Team in its efforts to become a competitive player on the Formula 1 grid."