The 42-year-old will remain behind the wheel with Aston Martin into the next generation of F1 regulations in 2026.
The deal was announced with a five-word statement, “I am here to stay.”
Alonso then faced invited media, including Speedcafe, where he elaborated.
That included the revelation that the deal is the longest Alonso has had in Formula 1.
It includes a minimum two-year commitment in the car and a role within the team’s management beyond his racing career.
“Securing Fernando’s long-term future with Aston Martin Aramco is fantastic news,” said Aston Martin team principal Mike Krack.
“We have built a strong working relationship over the last 18 months and we share the same determination to see this project succeed. We have been in constant dialogue over the last few months and Fernando has been true to his word: when he decided he wanted to continue racing, he talked to us first.
“Fernando has shown he believes in us, and we believe in him.
“Fernando is hungry for success, driving better than ever, is fitter than ever, and is completely dedicated to making Aston Martin Aramco a competitive force.
“This multi-year agreement with Fernando takes us into 2026 when we begin our works power unit partnership with Honda.
“We look forward to creating more incredible memories and achieving further success together.”
Alonso had said that he was in no rush to make a decision on his future and he must first decide whether he wanted to continue racing.
“I needed a few races or few weeks to really think about myself, if I was ready to commit for more years in Formula 1, because the calendars are just a little bit more intense now, the car as well, the commitments,” he explained.
“My love for Formula 1 and my love for Aston Martin didn’t change, but I just wanted this time to really speak with myself and make the decision and the commitment.
“Formula 1 takes all your time, all your energy. You have to give up basically everything in life to keep racing, and I wanted just to speak with myself if I was ready to do so.
“Once I took the decision, I think it was after Australia, something like that, yeah, I sat with Aston.
“We both wanted the same. I wanted to keep racing with Aston Martin, Aston Martin also wanted to keep me on the seat.
“When two parties, they want something, at one point you reach an agreement. So I’m extremely excited to keep racing and keep racing with this team, at which I feel at home.”
