Stanaway, who finished sixth in last year’s Australian Formula Ford Championship, has also signed with prominent European motorsport management company RRT Holdings.
Part of RRT Holding’s deal is the drive in the Formula ADAC Masters Championship.
Subject to Richie’s mid-season results, he will also be given testing in Formula 3, which could see him offered a Volkswagen sponsorship in the German Formula 3 series.
Stanaway drove in the final six races of the German ADAC Masters Championship, qualifying on pole twice and scoring two podium finishes.
“It’s a fantastic opportunity, and to do it without having to find a whole lot of money is a huge bonus,” he told Speedcafe.com.au.
“It’s hard to say how I’m going to go. I did the last three rounds last year, had a few podiums, but it was tough racing against guys who were at the end of their second year in the class.
“It will all depend on who enters and who I go in pre-season testing.
“Race wins are a achievable. The opportunity is there if I win the championship I can move up to F3, so I’ve got to make sure I’m at my peak as soon as possible.”
Stanaway is scheduled to test the Dallara-built Formula ADAC cars soon in Germany. The whole championship is contested in Germany, besides one round at Dutch circuit Assen.