Mick Schumacher, son of seven-time Formula 1 world champion Michael, will race for the Haas team next season.
The US-based team said the 21-year-old had signed a “multi-year contract”. He will partner Russian Nikita Mazepin
German Schumacher said the move was “a dream come true, a dream I have been chasing since I was three years old”.
Ferrari, with whom he has a long-term contract, said the “eventual aim” was for him to drive for them in F1 “one day”.
Schumacher will be at Haas for at least the next two seasons.
Ferrari have signed Spaniard Carlos Sainz for 2021 and 2022 to partner Charles Leclerc, who has a contract with the Scuderia until 2024.