The Spanish driver, who joined as Sebastian Vettel's replacement in 2021, has formed a highly-rated partnership with Charles Leclerc since his arrival and his previous deal was set to expire this year.

His renewal was confirmed ahead of Ferrari's home Emilia Romagna GP, with Sainz tied down for another two years.

• The Sprint Q&A: F1's returning format and why it's even more significant
• From 'rock bottom' to F1 favourites: The story behind Ferrari's turnaround
• The tweaked full schedule for this weekend's Emilia Romagna GP

"I have said several times that I believe we have the best driver pairing in Formula 1 and so, with every passing race, it seemed a completely natural step to extend Carlos' contract," said team boss Mattia Binotto.

"I have always said that there is no better Formula 1 team to race for," added Sainz, 27. "And after over a year with them, I can confirm that putting on this race suit and representing this team is unique and incomparable.

"I feel strengthened by this renewed show of confidence in me and now I can't wait to get in the car, to do my best for Ferrari and to give its fans plenty to cheer about.

"The F1-75 is proving to be a front-runner, which can allow me to chase my goals on track, starting with taking my first Formula 1 win."

Sainz is currently third in the championship after Ferrari's stunning start to the season, 38 points behind leader Leclerc.

Sainz impressively beat his Monegasque team-mate in his rookie year in red but has had a difficult start to the year in comparison despite Ferrari's newly-competitive car, and spun out of the Australian GP.

But his contract extension was always going to be a formality given his form on the track and his partnership with Leclerc and the team off it.

"Together, we can aim for ambitious targets." stated Binotto. "And I'm sure that, along with Charles, he can play a significant part in fuelling the Ferrari legend and will write new chapters in the history of our team."

More to follow.

This is a breaking news story that is being updated and more details will be published shortly. Please refresh this page for the latest updates.

Sky Sports brings you live updates as they happen. Get breaking sports news, analysis, exclusive interviews, replays and highlights.

Sky Sports is your trusted source for breaking sports news headlines and live updates. Watch live coverage of your favourite sports: Football, F1, Boxing, Cricket, Golf, Tennis, Rugby League, Rugby Union, NFL, Darts, Netball and get the latest transfers news, results, scores and more.

Visit skysports.com or the Sky Sports App for all the breaking sports news headlines. You can receive push notifications from the Sky Sports app for the latest news from your favourite sports and you can also follow @SkySportsNews on Twitter to get the latest updates.