Lewis Hamilton won his maiden F1 victory at the Canadian GP in 2007
The Canadian Grand Prix will return to the Formula 1 calendar next year after organisers reached an agreement with F1 boss Bernie Ecclestone.
The Canadian GP, which had been part of the F1 World Championship since 1967, was dropped for this season as a result of a financial disagreement.
The Montreal race has been provisionally agreed for 6 June 2010.
The calendar is not expected to be confirmed until October and Ecclestone has yet to comment on Canada's return.
"I've always been confident of being able to resolve the dispute," said race organiser Normand Legault.
"I never doubted the Canadian race would regain its rightful place on the FIA schedule, and my discussions with F1 management led me to believe the event would return soon.
"The race is important not only for Formula 1, but also for the teams, manufacturers and sponsors.
"I am also happy for the Canadian Grand Prix's many fans because they are true F1 enthusiasts who appreciate the real value of the spectacle and the competition."
The dispute was between local organisers, Grand Prix F1 du Canada and Formula 1 Administration, which holds the commercial rights to the F1 series.
The omission of the Canadian GP during the current campaign ensured there was no North American event on the F1 calendar, with the United States Grand Prix being omitted since 2007.
Since 1982 the Canadian GP had been held at the Circuit Gilles Villeneuve in Montreal.
Two years ago, Lewis Hamilton won his maiden F1 victory at the Canadian GP in only his sixth race, while last year Robert Kubica also clinched his first F1 win in Montreal.
Legault, President and CEO of Grand Prix F1 du Canada added that he would not remain involved as a local promoter.