Jenson Button will partner double world champion Fernando Alonso at McLaren next season.
Reports in British press claim the Woking based team will officially announce Button’s appointment alongside Alonso in a press conference today.
It is understood McLaren had agreed a two-year contract with Alonso some time ago but has been deliberating for weeks over which of its current drivers will partner the Spaniard for next season.
However, the team has now finally decided in favour of the 34-year-old 2009 world champion over the 22-year-old Kevin Magnussen.
Magnussen was thought to be the favourite for the seat with the Dane seen as a long term option for the team. He also showed impressive pace despite being outscored 126-55 by his more senior team-mate.
It appears Button’s experience and previous relationship with McLaren’s new engine supplier Honda may have played a part in the decision.
Button had been contemplating his future in the sport and was expected to retire from Formula 1 to pursue a likely career in sportscars if he failed to receive the nod.
His appointment has left Magnussen, who has impressed in his rookie year in F1, without a drive for next season.
It is unclear at this stage if he will stay on at the squad in a reserve driver role now all the remaining drives on the F1 grid have been secured.