Haas was one of three prospective entrants who responded to the FIA's request for new teams and he has now been given the green light by the FIA.
A statement released by the FIA following the World Motor Sport Council meeting in Morocco on Friday confirmed investigations are ongoing with a prospective entry called Forza Rossa.
'The FIA has launched a selection procedure for an additional F1 team(s), and applications of a high standard have been received. In close consultation with the CRH [Commercial Rights Holder], the FIA has accepted the candidature of Haas Formula LLC and are in the process of conducting further investigations for Forza Rossa', read the statement.
Haas welcomed the announcement although remains wary of the challenges that his prospective team faces.
"Obviously, we’re extremely pleased to have been granted a Formula 1 licence by the FIA," Haas said.
"It’s an exciting time for me, Haas Automation and anyone who wanted to see an American team return to Formula 1.
"Now, the really hard work begins. It’s a challenge we embrace as we work to put cars on the grid. I want to thank the FIA for this opportunity and the diligence everyone put forth to see our licence application come to fruition."
Formula 1 has not featured a new team since the start of 2010, when three outfits joined the sport.