It is finally official: Sebastian Vettel will replace Fernando Alonso next season as the Scuderia Ferrari Formula One team confirmed a three-year deal with the four-time world champion. Vettel will partner with 2007 world champion Kimi Raikkonen.

Ferrari has also announced that Alonso and the Italian team have agreed to part ways even though the Spaniard still had two more years to run on his contract. Alonso is expected to join McLaren next season.

With this, Ferrari team principal Marco Mattiacci said that Vettel will become an “invaluable” asset for the Italian F1 team.

"Scuderia Ferrari has decided to put its faith in the youngest multiple champion in the history of Formula One. With Sebastian, we all share a thirst for victory as well as enthusiasm, a strong work ethic and tenacity,” Mattiacci said.

For Vettel, the move to Ferrari is a dream come true and said that he is motivated to help the Ferrari F1 team to get back on top.

"The next stage of my Formula One career will be spent with Scuderia Ferrari and for me that means the dream of a lifetime has come true. The Scuderia has a great tradition in this sport and I am extremely motivated to help the team get back to the top. I will put my heart and soul into making it happen," Vettel said.