The Swede joined the Hinwil-based squad for the start of the 2015 season after having made his F1 debut with the extinct Caterham team the previous year.

Ericsson enjoyed a rather strong first year with Sauber, scoring nine points on his way to 18th in the standings.

However, the 26-year-old has failed to scored so far this year.

But with new owners having taking over the team, Ericsson is confident of a strong season in 2017.

"It is great news that I will be racing for another year for the Sauber F1 Team," said Ericsson. "I have spent two years with Sauber now, and I really feel at home.

"A big thanks to everyone within the team for trusting in me again. From a personal point of view, I have developed a lot as a driver during my time at Sauber. We have had ups and downs, but we always stick together and work as hard as we can.

"Since the new ownership, there has been a positive push in the team, so it will also be exciting to go into this new era. Many motorsport experts are becoming part of Sauber, which is a good sign for the future.

"For 2017 my aim is to build on my performance from the second half of this season, and to continue working hard with the team. I cannot wait for the 2017 season, so that we can make our way up to the midfield with the objective to score points on a regular basis."

Sauber said the identity of Ericsson's teammate will be announced in due course.

The Swede is currently partnered by Brazilian Felipe Nasr, whose contract extension with the team has been delayed due to sponsorship complications.

"We are very pleased to announce that Marcus will remain our race driver for the Sauber F1 Team in 2017," said team boss Monisha Kaltenborn.

"During the current season Marcus has again showed he is willing to go that extra mile in order to make progress. He went through very difficult times with us, but managed those very well.

"In the last two years, he has made significant steps in regards to his personal development, proving his skills on as well as off track, especially when circumstances are not easy.

"He is not only a good driver, but also an important team player who understands how to work with the team and how to motivate everyone with his positive attitude.

"Formula 1 goes into a new era in 2017, and I am confident that we can count on Marcus to bring the team back into the competition."

2017 line-up so far