F1 will return to Portugal in 2027 and 2028 as part of a two-year agreement with the Portuguese government, Turismo de Portugal, and promoter Parkalgar, Parques Tecnológicos e Desportivos, S.A.

The Autódromo Internacional do Algarve, more commonly known as Portimão, last hosted F1 events in 2020 and 2021, and was a key venue in the sport's return to racing during the pandemic.

Set in the Algarve in Portugal's southernmost region, known for its spectacular beaches and historic charm, the 4.6km circuit offers drivers a technical challenge with dramatic elevation changes, culminating in a plunge down to the final right-hander leading back to the pit straight.

Portugal has history in Formula 1, having hosting its first Grand Prix in Porto in 1958, as well as holding race weekends in Monsanto and Estoril across the sport's 75 years.

Some of the greatest drivers in Formula 1 have stood atop the podium in Portugal including Stirling Moss, Alain Prost, Ayrton Senna and Nigel Mansell, the Brazilian famously winning his first Formula 1 Grand Prix at Estoril in 1985.

More recently, Portimão was the circuit where Lewis Hamilton surpassed Michael Schumacher's record of all-time wins after he secured his 92nd victory in 2021. The Briton remains the only driver on the current grid to win at the circuit having also taken the chequered flag in 2020.

"I'm delighted to see Portimão return to the Formula 1 calendar and for the sport to continue to ignite the passion of our incredible Portuguese fanbase," said Stefano Domenicali. "The circuit delivers on-track excitement from the first corner to the chequered flag, and its energy lifts fans out of their seats.

"The interest and demand to host a Formula 1 Grand Prix is the highest that it has ever been, so I would like to thank Prime Minister, Luís Montenegro, the Minister of Economy and Territorial Cohesion of Portugal, Manuel Castro Almeida, the Secretary of State for Tourism, Commerce and Services, Pedro Machado, President of Turismo de Portugal, Carlos Abade, President of the Algarve Tourist Board, Andre Gomes and CEO and Chairman of the Algarve International Circuit, Jaime Costa for their support in bringing F1 back to Portugal. I look forward to working together again to ensure that Portimão returns to the calendar in emphatic style."

"Portugal is back on the Formula 1 map," added Manuel Castro Almeida, Minister of Economy and Territorial Cohesion of Portugal. "The F1 Grande Prémio de Portugal will have a direct impact on economic activity, generating opportunities throughout the economic chain - from tourism to trade, and services to SMEs - projecting the country as a competitive and reliable destination.

"Hosting the Grand Prix in the Algarve reinforces our regional development strategy, enhancing the value of the territories and creating opportunities for local economies. This will be an event that, in addition to being a source of prestige for our country, will enhance Portugal's image throughout the world."

"We are thrilled to welcome Formula 1 back to Portugal and to the Autódromo Internacional do Algarve," said Jaime Costa, Chairman and CEO of Autódromo Internacional do Algarve. "The Portuguese Grand Prix will showcase the excellence of our circuit and the passion of our fans, delivering a powerful boost for our tourism, region, and community.

"This achievement was only made possible with the continuous support - since the beginning - of the Portuguese Government. Portimão's unique "rollercoaster" layout will challenge the best drivers in the world and create a spectacle that fans will love. We look forward to creating unforgettable moments and setting new standards of excellence on and off the track."