Although there has been no official word from the FIA, a Bahraini official has confirmed that the race will go ahead later this season.
Bahrain was scheduled to host the season-opening grand prix in March. However, the race was postponed due to political unrest within the island kingdom.
The country, though, claims it is on the road to recovery and on Wednesday emergency rule was lifted with Bahrain officials stating they hoped tourists and F1 would return to their country.
And it appears as if that is what will happen.
F1's World Motor Sport Council met on Friday to discuss the matter with a Bahraini official writing on Twitter that the race has been given the go-ahead.
President of Bahrain's information affairs authority Fawaz Al Khalifa Tweeted: "Mabrook, Bahrain will host f1. Fia finalizing date now."
Khalifa's Tweets have now been backed up by an official statement from the circuit with Zayed R Alzayani, chairman of the Bahrain International Circuit, confirming the news.
"This is welcome news for all of Bahrain," he said.
"As a country we have faced a difficult time, but stability has returned; with businesses operating close to normal, the State of National Safety lifted and countries removing travel restrictions.
"Collectively, we are in the process of addressing issues of national and international concern, and learning lessons from the recent past. By the time the Grand Prix arrives we will be able to remind the world about Bahrain at its best.
"The Bahrain Grand Prix has always been a source of national pride and it is an event than transcends politics. Not only does it receive strong support from the Government, but also from all major parties in Bahrain, including our largest opposition group, Al Wefaq, who yesterday endorsed both the BIC and motor-racing in Bahrain.
"Importantly, it will also offer a significant boost to the economy. The Grand Prix attracts 100,000 visitors, supports 3,000 jobs and generates around $500m of economic benefit. Its positive effect will be felt throughout the country.
"On behalf of Bahrain, I would like to thank Bernie Ecclestone, Jean Todt and the FIA and the rest of the motorsport community for the support and understanding they have extended to us this year."
The Bahrain GP is expected to take place on October 30th while the Indian GP will move to the end of the calendar, although no date has been set.
