The 26-year-old arrived at MSR this season as a rookie and has now landed a muti-year deal, meaning his tenure will stretch into 2025 at least.
Team owner Matt Stone forecast the agreement weeks ago and has now hailed what he describes as a “long-term commitment” with Hill.
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“It's good to have Cam locked in for the next few seasons,” said Stone.
“We have been impressed by his progress over this year and he has proven himself as a valuable asset to our team, and really become part of the family here.
“We have seen him grow and develop as a driver, and we have no doubt that he has what it takes to race at the front of the Supercars field.
“This long-term commitment between MSR and Cam strengthens our combined vision for success and as a team we'll continue to provide him with the resources and support necessary to continue on this upward trajectory together.”
The 2015 Australian Formula Ford and 2021 Carrera Cup Australia title winner is the first half of the Yatala-based squad's driver line-up to be confirmed for 2024, with current team-mate Jack Le Brocq moving to Erebus Motorsport to replace Will Brown.
As previously reported by Speedcafe, Team 18 incumbent Scott Pye is considered the favourite to take over the #34 Camaro seat which Le Brocq, who delivered MSR's first ever race win at Championship level at Hidden Valley in June, will vacate at season's end.
The Sandown 500 takes place on September 15-17.
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