Max Verstappen has signed a new contract with Red Bull, keeping him at the team until 2023.
The 22-year-old Dutchman's deal was due to expire this year and he had been earmarked as a potential candidate to replace Lewis Hamilton at Mercedes, if the six-time world champion, also out of contract at the end of the season, moved to Ferrari.
But Verstappen, an eight-time Grand Prix winner, has now committed his long-term future to Red Bull.
"I am really happy to have extended my partnership with the team," said Verstappen, who finished third in the championship last season.
"Red Bull believed in me and gave me the opportunity to start in Formula One, which I have always been very grateful for.
"Honda coming on board and the progress we have made over the last 12 months gives me even more motivation, and the belief that we can win together.
"I respect the way Red Bull and Honda work together, and from all sides, everyone is doing what they can to succeed. I want to win with Red Bull and our goal is, of course, to fight for a world championship together."
Verstappen's move to continue his relationship with Red Bull follows Charles Leclerc signing a five-year contract extension with Ferrari last month.
"With the challenge of the 2021 regulation changes on the horizon, continuity in as many areas as possible is key," Red Bull team principal Christian Horner added.
"Max has proven what an asset he is to the team. He truly believes in the partnership we have forged with our engine supplier Honda and we are delighted to have extended our relationship with him."