Max Verstappen has signed a new three-year deal with Red Bull Racing, which will see the youngster remain with the team until the 2020 season.
The 20-year-old driver is currently sixth in the 2017 Drivers' Championship ahead of Sunday's US Grand Prix in Austin, Texas.
Verstappen had been courted by Ferrari, as well as Mercedes, in recent weeks as speculation over his racing future remained up in the air.
He was expected to sign for one of the two motor-racing companies, however, Verstappen has agreed to extend his stay at Red Bull after committing his future to the franchise.
"Red Bull has always shown their faith and belief in me with actions," Verstappen said in a statement, per Sky Sports.
"They have always backed me and my ambition and I know we share that ambition. I'm very happy to commit further to Red Bull Racing and I'm looking forward to working together to enjoy more success in the years to come."
Verstappen, who finished runner-up on the podium to Lewis Hamilton at the Japanese Grand Prix last time out, has been integral to a late-season revival.
Red Bull handed Verstappen his first big break in Formula One, when he was promoted to the senior team in May 2016, winning his debut race during the Spanish Grand Prix.
Verstappen re-signing has provided a coup for Red Bull Racing, who have had a battle on their hands to keep him and team-mate, Australian Daniel Ricciardo, who's contract expires at the end of next season.
Red Bull Team Advisor Helmut Marko said: "We gave him his first chance in Formula One and now we want to be, together with Max, the youngest world champion. We saw his potential, he is still developing, he believes in the team and we extended the contract until 2020."