The high-profile executive will rejoin the company on July 23, assuming the role he previously held from mid-2013 to the end of 2017.
Warburton replaces Shane Howard following a March announcement that the veteran Supercars loyalist will take a new role within the ownership group of RACE.
That triggered a global search for fresh leadership.
Speedcafe revealed last week that Warburton had emerged as the front-runner, with his new tenure now officially locked in.
Final sign-off of Warburton’s position was thought to be awaiting the approval of an equity shareholding for the executive.
Warburton left Supercars at the end of 2017 following a disagreement over remuneration. He subsequently moved to advertising firm APN Outdoor before a five-year stint as CEO of Seven.
“James is an energetic, strategic and results-driven executive,” said RACE chairman Barclay Nettlefold.
“He understands the DNA of our sport and has a proven track record of delivering commercial success and building trusted relationships with teams, partners, broadcasters and fans alike.
“His return reflects our ambition to strengthen Supercars’ position as a world-class sporting and entertainment product.”
Warburton described the chance to return to Supercars’ top job as an honour.
“Supercars holds a very special place in Australian sport, and I’m honoured to be returning to lead the business into its next phase,” he said.
“This is a championship with passionate fans, incredible on-track action, and huge potential to grow.
“The business has evolved significantly in recent years and I’m excited to build on the strong foundation already in place.
“I want to thank the Board for the opportunity and can’t wait to get started.”
Supercars was owned by private equity firm Archer Capital and the race teams during Warburton’s previous stint as leader.
The business was sold in 2021 to a consortium of investors known as RACE that is led by Nettlefold.
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