Renault has confirmed Kimi Raikkonen will return to Formula 1 racing next year, after having secured a deal to compete with the squad.

Raikkonen, who had left Formula 1 at the end of the 2009 season, had been in talks with the Williams team about a possible return next year, but the deal feel through and he was immediately linked with Renault, which will be called Lotus from 2012.

Raikkonen, 32, moved from Formula 1 to the World Rally Championship, where he spent the last two seasons while also competing in one race of the NASCAR Truck series and one Nationwide event.

The Finn won the Formula 1 world championship in 2007 with Ferrari, having scored a total of 18 wins since he made his grand prix debut in 2001.

Renault was forced to search for another driver after Robert Kubica confirmed last week that he would not be ready to start the 2012 season following his dramatic accident in February.

Raikkonen has signed a two-year deal with the team.

"I'm delighted to be coming back to Formula 1 after a two-year break, and I'm grateful to Lotus Renault GP for offering me this opportunity," said Raikkonen. "My time in the World Rally Championship has been a useful stage in my career as a driver, but I can't deny the fact that my hunger for F1 has recently become overwhelming.