Ferrari on Wednesday confirmed speculation that Felipe Massa is staying alongside current teammate Fernando Alonso next year.
And the famous Italian team also said in a media statement that Brazilian Massa, 29, will still be a Ferrari race driver in 2012.
"I am happy to be given the opportunity to drive for Ferrari for a further two seasons," he said.
With Spaniard Alonso under long-term contract, the news ends rumours that Renault's Robert Kubica might switch to Ferrari in the near future.
The other driver recently linked with Massa's seat, Mark Webber, has re-signed with Red Bull Racing for 2011.
"We wanted to show proof of stability for the future, believing in the worth of a driver pairing that is without equal in terms of talent, speed and its ability to work together for the good of the team," said team boss Stefano Domenicali.