Mexico has secured its return to the formula one calendar in 2015.
The Mexico City-based events company CIE said in a filing with the country's stock exchange that it has signed a five-year contract with the sport.
The race, masterminded by former Austin F1 chief Tavo Hellmund and also involving Carlos Slim Domit, will take place at the Autodromo Hermanos Rodriguez in Mexico City, which last hosted a grand prix in 1992.
Bernie Ecclestone confirmed to Forbes: "We have got Mexico past the post."
F1 business journalist Christian Sylt said the news will be made official in a press briefing in Mexico on Wednesday morning.
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