McLaren have confirmed Kevin Magnussen for the 2014 season with the rookie set to partner veteran Jenson Button.
With Mexican Sergio Perez confirming on Wednesday evening that he will leave the Woking squad after only one season, the deal for Magnussen was all but done and dusted.
The team announced on Thursday that the 21-year-old, who won this year's World Series by Renault 3.5 Championship, will make his Formula One debut next year.
"I'm absolutely overjoyed to be making my Formula 1 debut with McLaren," Magnussen said.
"I'll put it simply: this team is the best. It's been my dream to drive for McLaren ever since I was a small kid, and it's no exaggeration to say that I've dedicated almost every day of my life to achieving the goal of becoming a McLaren Formula 1 driver.
"I have an enormous amount of respect for everyone at McLaren, and I want to say a massive 'thank you' to everyone, but most of all to Martin and his senior colleagues, for giving me this chance. I won't let you down, guys!
"Equally, in Jenson, I have absolutely the ideal team-mate. He's extremely quick, obviously, but he's also very experienced and superbly capable from a technical perspective. He's a Formula 1 World Champion, which is what one day I also hope to become, and I'm determined to learn as much as I can from him."
Team principal Martin Whitmarsh is delighted to have recruited the youngster.
"Next year, we'll witness the biggest raft of technical changes to Formula 1 in many years, and every team and manufacturer will be pushed to the limit as they try their best to adapt to those new challenges," he said.
"Jenson's race-winning speed, intelligence and racecraft have long been a crucial advantage to McLaren, but it's his skill as a development driver and his peerless technical feedback that will be equally valuable as we make the transition into a new and complex technical formula during the winter and new year.
"Kevin, too, is clearly very talented and very determined, and we therefore have high hopes for him. Moreover, every time he's tested our Formula 1 car, he's been very quick and very methodical, and his feedback has been first-class.
"Furthermore, the manner in which he won this year's World Series by Renault 3.5 Championship was truly outstanding, showcasing as it did not only his impressive natural pace but also his increasing maturity and ability to structure and manage a Championship campaign."