Virgin on Sunday morning said Timo Glock has signed a new long-term contract.
A media statement quoted the German driver as saying the deal is for "the next few years", while journalists reporting from the media breakfast event in the team's motor home said it covers 2012, 2013 and 2014.
Glock, 29, also confirmed the duration of his new three year deal on Twitter.
"I can't wait to be with the team when we start to enjoy the good times. And I know they are coming," he said at the Nurburgring.
Virgin, yet to score a single point since its inception in 2010, confirmed it has an "ambitious plan" to be "at the front of the field by 2014".