Ferrari has confirmed that Kimi Raikkonen will remain with the team for a further season, ahead of this weekend's Belgian Grand Prix.
Raikkonen re-joined Ferrari at the start of 2014 but could finish only 12th in the championship and this year trails Sebastian Vettel in the championship.
Raikkonen's performances led to speculation that he could be replaced for 2016, with compatriot Valtteri Bottas emerging as the leading contender.
However, ahead of this weekend's Belgian Grand Prix, Ferrari silenced the rumours by announcing that Raikkonen will stay on in 2016, alongside Vettel.
"Scuderia Ferrari announces that it has renewed its technical and racing agreement with Kimi Raikkonen," read a statement.
"The driver line-up next season will still consist of the Finnish driver and Sebastian Vettel."
Raikkonen said it was a 'dream' to be retained for a further season.
"What can I say… For me, to be able to stay another year at Ferrari means that the dream goes on," he said.
"The Scuderia is my family, as I always said, it’s here I want to end my career. I am more committed than ever and I want to say thank you to the people who gave me this chance. Also, a big thank you goes to all my Ferrari fans, for their continuous support."