Nico Rosberg has signed a new multi-year contract that ties him to Mercedes through to 2013 and beyond.
Rosberg is coming towards the end of his third season with the German manufacturing giant who have yet to win a race since taking over Brawn GP following their double title triumph in 2009 when Jenson Button was crowned champion.
But Rosberg has decided to remain loyal to Mercedes, and firmly believes he will one day fulfil a dream of stepping onto the top of the podium for the first time in his Formula One career with the team.
Rosberg, who has scored three podiums with the team, said: "I am very excited to have extended my contract with Mercedes.
"To win in a Silver Arrow will be one of the highlights of my life so far, and I greatly enjoy helping to lead our team in our quest to become the best in Formula One.
"I have every confidence the team will provide me with a winning car, and we will be able to contribute to the fantastic racing heritage of the Silver Arrows."
Team principal Ross Brawn has no doubts Rosberg has the talent to help take Mercedes to the top.
"As we know Nico is a driver who can win races and championships," said Brawn.
"He has performed exceptionally well for our Silver Arrows team over the past two seasons, achieving results at the very limit of the technical capabilities of our current car.
"He has an excellent work ethic and, together with Michael (Schumacher), this gives us a driver pairing who consistently push the team to improve and progress.
"As we continue to strengthen our team for the future, we look forward to providing Nico with a car which will enable him to compete right at the front of the field and achieve his deserved first win in Formula One."
Rosberg will join forces with seven-times champion Schumacher in 2012 for the third consecutive season.
As yet, it is not known whether Schumacher will opt to remain at Mercedes, or retire for a second time, once his current contract expires at the end of next year.