Amato Ferrari, the owner of successful GT team AF Corse, will enter a new team in next year's rebranded Formula 3.5 championship.
The 'Spirit of Race' squad had its entry into the series, which will continue to run in 2016 without the backing of Renault, accepted by new owners RPM on Monday.
The championship has been given the provisional moniker 'Formula 3.5' following the withdrawal of the French manufacturer, although this could be subject to change before the start of next season.
Ferrari, whose AF Corse team has enjoyed a successful affiliation with the famous Italian marque for many years in endurance racing, has been named team principal of the new operation.
“Formula Renault 3.5 always attracted me by representing an excellence in the single-seater worldwide competition," said Ferrari.
"The engineering and agonistic level of the series represents a great challenge for me and I will work hard to maintain the same level of performance, traditional of my racing history."
Jaime Alguersuari Sr, RPM Racing chairman, added: “It is only four weeks since we accepted the challenge of assuming the property and the responsibility of organising in 2016 a new championship with the current Formula Renault 3.5 single-seater.
"I am proud to announce that Amato Ferrari, a true man of motorsport, has decided to link his talent and the quality of his technical and human structure to the new project lead by RPM.
"His commitment in the new team Spirit of Race guarantees the best quality standards of the new championship for highly talented drivers."