Vettel to stay with Red Bull

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The new agreement also contains an option for the 22-year-old German to continue with the Milton Keynes-based squad for 2012.

Vettel is a graduate of the Red Bull Junior Team and has already won three grands prix in a 36-race career.

He made his debut in a one-off outing for BMW Sauber at the 2007 United States Grand Prix, where he became the youngest points scorer in the history of the sport by coming home in eighth.

A year later Vettel broke another record, becoming the youngest grand prix winner when he took the chequered flag at Monza for Toro Rosso.

Vettel's 2009 season has been equally impressive. He claimed Red Bull's first win at the Chinese Grand Prix in April and followed that up with a crushing victory at Silverstone in June.

He lies third in the 2009 drivers' standings, 4.5 points behind team-mate Mark Webber, who extended his contract for a further season last month, and 23 points behind championship leader Jenson Button.