Former world champion Kimi Raikkonen will return to Formula 1 with Lotus Renault next season, the Enstone outfit announced on Tuesday morning, after signing a two-year deal with the team.

The 32-year-old Finn has spent the last two seasons in the World Rally Championship after his Ferrari contract was terminated a year early at the end of 2009 so the Maranello outfit could sign Fernando Alonso.

Strong recent speculation had linked Raikkonen to an F1 return with Williams, but in the wake of the announcement that previous lead driver Robert Kubica wouldn’t be fit to return to the sport for the start of next year, rumours suggested that Renault had turned their attention to the 18-time grand prix winner.

Speaking in a team press release confirming the news, 2007 champion Raikkonen admitted his desire to make an F1 comeback had “recently become overwhelming” and believes with his new team – which will become known as purely Lotus in 2012 – can move back up towards the sharp end of the grid.

“I’m delighted to be coming back to Formula 1 after a two-year break, and I’m grateful to Lotus Renault GP for offering me this opportunity,” Raikkonen said.

“My time in the World Rally Championship has been a useful stage in my career as a driver, but I can’t deny the fact that my hunger for F1 has recently become overwhelming.

“It was an easy choice to return with Lotus Renault GP as I have been impressed by the scope of the team’s ambition. Now I’m looking forward to playing an important role in pushing the team to the very front of the grid.”

Team owner Gerard Lopez said the high-profile signing of Raikkonen was one of several steps the squad are taking to return to the front of F1, adding that he is delighted to have captured the services of a world champion.

“All year long, we kept saying that our team was at the start of a brand new cycle. Backstage we’ve been working hard to build the foundations of a successful structure and to ensure that we would soon be able to fight at the highest level,” he said.

“Kimi’s decision to come back to Formula 1 with us is the first step of several announcements which should turn us into an even more serious contender in the future.

“Of course, we are all looking forward to working with a world champion. On behalf of our staff, I’d like to welcome Kimi to Enstone, a setting that has always been known for its human approach to Formula 1.”