Portugal will return to the Formula 1 calendar in 2027 and 2028.
The race will be held at the Algarve International Circuit near Portimao, which held two grands prix during the Covid-19 pandemic in 2020 and 2021.
Portugal will effectively be a replacement for the Dutch Grand Prix, which will be held at Zandvoort for the last time next year.
Portimao is a 2.89-mile track that swoops over hilly terrain and is highly regarded for its driving challenge.
It has a rural location north of the coast and also has a reputation for problematic access.
