The Finn was out of contract at the end of the season, but the Scuderia have reached an agreement with the 2007 World Champion to continue his stay at Ferrari for a fifth consecutive year and eighth season in total for the Prancing Horse.
Raikkonen is currently fifth in the World Drivers’ Championship and is 86 points behind team-mate and title leader Sebastian Vettel, prompting criticism from Ferrari boss Sergio Marchionne, who labelled him “a laggard” earlier on in the season.
However, the 37-year-old has now been retained for another year, with Vettel expected to follow suit by signing a new deal ahead of the Italian Grand Prix at Monza next week.
Ferrari confirmed Raikkonen’s deal with a brief statement on their official website:
“Ferrari N.V. (NYSE/MTA: RACE) announces that Scuderia Ferrari has renewed its technical and racing agreement with Kimi Raikkonen. The Finnish driver will therefore race for the Maranello team in the 2018 Formula One World Championship.”