The world championship has inked a fresh deal with the Portuguese government, Turismo de Portugal, and promoter Parkalgar, Parques Tecnológicos e Desportivos, S.A that will run across the 2027 and 2028 season.

The Autódromo Internacional do Algarve, better known as Portimao, will host F1’s return to the country.

The circuit last hosted F1 in 2020 and 2021 as part of the more European-centric seasons during the height of the COVID-19 global health crisis.

“I’m delighted to see Portimao return to the Formula 1 calendar and for the sport to continue to ignite the passion of our incredible Portuguese fanbase,” said F1 president and CEO Stefano Domenicali.

“The circuit delivers on-track excitement from the first corner to the chequered flag, and its energy lifts fans out of their seats.

“The interest and demand to host a Formula 1 Grand Prix is the highest that it has ever been, so I would like to thank Prime Minister, Luís Montenegro, the Minister of Economy and Territorial Cohesion of Portugal, Manuel Castro Almeida, the Secretary of State for Tourism, Commerce and Services, Pedro Machado, President of Turismo de Portugal, Carlos Abade, President of the Algarve Tourist Board, Andre Gomes and CEO and Chairman of the Algarve International Circuit, Jaime Costa, for their support in bringing F1 back to Portugal.

“I look forward to working together again to ensure that Portimao returns to the calendar in emphatic style.”

Manuel Castro Almeida, Minister of Economy and Territorial Cohesion of Portugal, added: “Portugal is back on the Formula 1 map. The F1 Grande Prémio de Portugal will have a direct impact on economic activity, generating opportunities throughout the economic chain – from tourism to trade, and services to SMEs – projecting the country as a competitive and reliable destination.

“Hosting the Grand Prix in the Algarve reinforces our regional development strategy, enhancing the value of the territories and creating opportunities for local economies. This will be an event that, in addition to being a source of prestige for our country, will enhance Portugal’s image throughout the world.”