The new Spyker Formula One team will use Ferrari engines in their first season next year.
Christijan Albers in the new Spyker car in China
Toyota's decision to switch to Williams meant Spyker, who have taken over the Midland team, needed a new engine deal.
"To reach agreement with the number one name in the Formula One world for over 50 years is a milestone for us," said Spyker boss Victor Muller.
"I am convinced that the co-operation of Spyker with Ferrari and their staff will bear fruit for the 2007 season."
Spyker confirmed on Friday that the Dutch Midland driver Christijan Albers will drive for them next year.