Formula One will return to the US from 2012 after Bernie Ecclestone agreed a deal to stage a race in Austin, Texas.
A new purpose-built facility will be built and host the race until 2021. Lewis Hamilton won the last race to be held at the US in Indianapolis in 2007, ending an eight-year stay at the famous speedway.
"For the first time in the history of Formula 1 in the United States, a world-class facility will be purpose-built to host the event,” said Ecclestone.
"It was 30 years ago that the Formula 1 United States Grand Prix was last held on a purpose-built permanent road course circuit in Watkins Glen, NY (1961-1980), which enjoyed great success.
"Since then, F1 has been hosted by Long Beach, Las Vegas, Detroit, Dallas and Phoenix all on temporary street circuits. Indianapolis joined the ranks of host cities in 2000 when they added a road course inside the famed oval.
"Lewis Hamilton won the last F1 United States Grand Prix in 2007, signalling the end to eight years at Indianapolis Motor Speedway. This however, will be the first time a facility is constructed from the ground up specifically for F1 in the US.”