The West Australian driver will be team-mate to fellow Red Bull-backed driver Brendon Hartley.
Ricciardo has already made a one-off appearance in the Renault series at the Algarve in August and Tech 1 boss Simon Abadie told autosport.com that he has been impressed with what he's seen so far.
“Daniel's already proved his ability to adapt very quickly,” he said.
“He's a great guy and we're delighted to welcome him into our team.”
Ricciardo was in action during the series test at Motorland Aragon this week, driving for both the Carlin and SG Formula teams.
New Zealander race Hartley, who drove for Tech 1 this year, had a steady year and looks like being a championship contender in 2010.
“Brendon's learned a lot this season and has shown incredible speed,” Abadie said.
“He'll already have a year's experience under his belt in this formula, which will make him one of the favourites for the drivers' title.
“We didn't have a lot of luck with him in 2009, but next year, when we fit all the pieces together, he'll be one hell of a challenger.”