The name Senna will return to Formula One for the first time in 16 years next season.

Bruno Senna - nephew of three-times world champion Ayrton, who was killed in an accident in the 1994 San Marino Grand Prix - has been given a contract with the new Spanish team, Campos Meta.

The 26-year-old Brazilian said: "I'm absolutely delighted to fulfil a lifetime's dream.

"Now it is time to set new targets. The project Campos Meta have developed is designed to succeed both on and off track."

Speaking to his fans on his Twitter page, Senna added: "Guys, I'd like to thank you all for the great support.

"After many weeks of hard work and negotiations, me and my management finally made it.

"I'm very happy and I'd like to share this moment with you. Now it's time to focus and work hard in preparation for next season.

"Lots of hard work to come and, hopefully a great starting point. All the best."

Senna had hoped to be in F1 this season as he appeared poised to sign for Honda a year ago prior to their decision to withdraw from the sport.

But once Brawn GP rose from the ashes, the team opted to retain the experienced services of Jenson Button and Rubens Barrichello.

That left Senna, who was last year's GP2 runner-up, kicking his heels competing in sports car events.

But now he has finally secured his place in F1 after discussing the prospect with a number of teams.

Campos CEO Enrique Rodriguez de Castro said: "It is a great pleasure to welcome Bruno to the team.

"For us, it is an extraordinary honour to be returning the name Senna to Formula One.

"We have followed him closely since his early days in minor series and testified how quickly he developed his speed and skills at GP2 to become one of the most promising up-and-coming drivers of his generation.

"It is astonishing how fast he is entering the F1 scenario after just a few years in motor racing."

F1 supremo Bernie Ecclestone believes the Senna name will again add value to the sport.

Speaking in the media centre at the new Yas Marina circuit ahead of tomorrow's Abu Dhabi Grand Prix, he said: "It's obviously good.

"It's good for everybody, good for him and good for the sport. I hope the car is up to him, which is important.

"He's not Ayrton, but then nobody is, although it's good to have someone of that name and prestige in F1."

There is a possibility Nelson Piquet Jnr could be his team-mate, despite the disgrace in which he left F1 this year following the 'crashgate' scandal during his time with Renault.

That would see the names Senna and Piquet back in F1 at the same time, as they were from 1984 to 1991 when the two Brazilians were bitter rivals.

"It'd be good wouldn't it, another good name," added Ecclestone.

"That's what's been talked about actually."