Lewis Hamilton has signed a new contract to race for Mercedes in the 2021 Formula One season, it has been confirmed.

The reigning F1 champion will spend a ninth season with the Silver Arrows after winning a record-equalling seventh drivers' title in 2020.

Mercedes and Hamilton have agreed a deal that includes the formation of a joint charitable foundation with the aim of supporting greater diversity and inclusion in Motorsport.

Hamilton said: "I am excited to be heading into my ninth season with my Mercedes team-mates. Our team has achieved incredible things together and we look forward to building on our success even further, while continuously looking to improve, both on and off the track.

"I'm equally determined to continue the journey we started to make motorsport more diverse for future generations and I am grateful that Mercedes has been extremely supportive of my call to address this issue.

"I'm proud to say we are taking that effort further this year by launching a foundation dedicated to diversity and inclusion in the sport. I am inspired by all that we can build together and can't wait to get back on the track in March."

Team principal Toto Wolff added: "We have always been aligned with Lewis that we would continue, but the very unusual year we had in 2020 meant it took some time to finish the process.

"Together, we have decided to extend the sporting relationship for another season and to begin a longer-term project to take the next step in our shared commitment to greater diversity within our sport.

"Lewis' competitive record stands alongside the best the sports world has ever seen, and he is a valued ambassador for our brand and our partners.

"The story of Mercedes and Lewis has written itself into the history books of our sport over the past eight seasons, and we are hungry to compete and to add more chapters to it."

In a 2020 season that was truncated due to the coronavirus pandemic, Hamilton still made history by breaking Michael Schumacher's all-time F1 wins record with his 92nd victory at the Portugal Grand Prix.

This year he will hope to surpass Schumacher and become the first F1 driver in history to win eight world titles.

The 2021 season is scheduled to get under way with the Bahrain Grand Prix on March 28.

Lewis Hamilton has signed a new contract to race for Mercedes in the 2021 Formula One season, it has been confirmed.

Ferrari do not regret their failure to sign Lewis Hamilton for the 2021 season as they are confident Charles Leclerc can challenge the Formula One champion.

Hamilton has won six of his record-equalling seven world championships with Mercedes, although he has not yet committed to the Silver Arrows for the coming campaign.

A resolution is expected soon, but links to rivals Ferrari have never been far away.

A blockbuster move will not materialise on this occasion, however, as the Scuderia have secured Carlos Sainz Jr next to Leclerc in their 2021 line-up, replacing Sebastian Vettel.

And team principal Mattia Binotto is confident they have made the right move.

He told Sky Sports: "I don't think there will be regret because, at the end, when we took some decisions, we took them thinking they were the right decisions and today we have a fantastic driver like Charles, where we invested a lot as Ferrari.

"I think he's got a lot of talent. If he's got the right car, I'm pretty sure he can challenge Lewis Hamilton.

"We've made our choices and I think, together with Carlos, we are very strong. I don't think there will be any regret."

Although Leclerc - fourth two years ago with two wins to his name - would appear the obvious Ferrari contender, Binotto is not naming a "number one".

Sainz finished seven points better off than his new team-mate in 2020 while still with McLaren.

"There is not a number one and number two," Binotto said. "They will have equal opportunities - certainly at the start of the season. I'm pretty happy then that they are free to fight.

"I think what we have to do as usual is to optimise the team points, and when you optimise the team points, normally you are optimising the drivers' points as well. Team points is the number one.

"Later in the season, let's see how things will progress, let's see what objectives individual drivers can maybe achieve and if we need to adopt a different strategy, but at the start of the season, they will be free to fight."