Carlos Sainz has signed a two-year contract extension with Ferrari which will keep the Spanish driver with the team until the end of 2024.

Ferrari made the announcement as they prepare for this Sunday's Emilia Romagna Grand Prix - the first of two home races for the Italian outfit this season.

Sainz finished ahead of his teammate Charles Leclerc in the standings in his debut season with Ferrari but is 38 points behind Leclerc this term.

"I am very happy to have renewed my contract with Scuderia Ferrari," Sainz said of his new deal.

"I have always said that there is no better Formula One team to race for, and after over a year with them, I can confirm that putting on this race suit and representing this team is unique and incomparable.

"My first season at Maranello was solid and constructive, with the whole group progressing together. The result of all that work has been clear to see so far this season.

"I feel strengthened by this renewed show of confidence in me and now I can't wait to get in the car, to do my best for Ferrari and to give its fans plenty to cheer about.

"The F1-75 is proving to be a front-runner, which can allow me to chase my goals on track, starting with taking my first Formula One win."