Japanese company Bridgestone has won the contract to be Formula One's exclusive tyre supplier from 2008.
Bridgestone tyres will be on all F1 cars from next year
Bridgestone, who this year supply only Ferrari among the top teams, was handed a three-year contract by motorsport's governing body the FIA on Wednesday.
The deal means it will be F1's only supplier from next year, as Michelin is quitting at the end of this season.
Computer software giant Microsoft was chosen as single supplier for engine electronic control units.
Michelin, which won the title with Renault last year and is leading again in 2006, does not approve of the decision to use control tyres in F1 and did not tender for the contract.
It said in a statement: "The change of Formula One rules bringing about a monopoly in tyres is completely contrary to principles.
"Formula One should be a place were advanced technologies compete as a means of improving motorsport."