ART, Campos, Carlin, MP motorsport and Prema have all been announced as teams for the F1 Academy - an all-female driver championship.
The five teams all have impressive pedigrees in multiple junior categories.
Last season, ART Grand Prix took Victor Martins to the Formula 3 crown, Prema Racing became F3 Team Champions, MP Motorsport secured both Driver and Teams Championships in Formula 2, Carlin finished second in the F2 Teams' Championship with Logan Sargeant and and Campos Racing reigned supreme in Spanish F4 in 2022.
The series will start in 2023 and F1 say it will be an 'extra route' up the motorsport pyramid for young women alongside W Series, the similarly all-female championship that is aiming to return for a fourth season next year despite having its 2022 campaign shortened amid financial difficulties.
It is hoped the F1 Academy will quickly see a woman progress into Formula 3, and help Formula 2 and Formula 1 opportunities in the future.
The last female to race in F1 was Lella Lombardi back in 1976.
The driver line-up and calendar will be announced in the next few months.
The F1 Academy will feature five teams, run by current F2 and F3 teams, with three cars each to make up a 15-car grid. The inaugural season will have 21 races, with seven three-race events, and is likely to include at least F1 race weekend.
Like W Series, all drivers will compete in the same Formula 4 chassis.
F1 say they will be providing funding of €150,000 (£130,000) for each car, which will need to be matched by drivers to enter. They say that is a 'fraction of the usual costs to enter comparable series', and the rest of the budget will be provided by the teams.
Stefano Domenicali, President and CEO of Formula 1, said: "It is exciting to be able to announce the five teams that will be racing in the F1 Academy for next year and who will be providing this fantastic opportunity to the young and talented women to begin their journey into competitive motorsport. We believe it is important that everyone has the chance to follow their ambitions and get the support and guidance needed to progress and excel.
"The F1 Academy is an important part of our plan to increase diversity and representation in motorsport and we are looking forward to the first season in 2023 and stay tuned for more news in this area."
Jamie Chadwick hopeful W Series and F1 Academy can 'co-exist'
Three-time champion Jamie Chadwick says she hopes the W Series "can survive and continue" alongside Formula 1's newly-announced category for women.
"It (W Series) has been a life-changing opportunity for me over the past few years and for the other girls as well and everyone else involved in the series," Chadwick told Sky Sports News.
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"It's proven to be a very positive platform in providing these chances for us all to go racing. I really hope it can survive and continue on next year."
Chadwick, who will not compete in either of the all-female categories next year after signing a deal to make her American racing series debut in Indy NXT, is hopeful W Series and F1 academy can both thrive.
"From my side, I think anything we can to do to encourage more girls into the sport is key," she said. "I think the fact that F1 have created a new opportunity for drivers to be doing that is fantastic.
"I'd love to see that alongside W Series as well, and we can see more and more young girls get involved in the sport as a result of it."