The Italian, who lost out to the GP2 title to Red Bull Junior Pierre Gasly, had already been in the Maranello's squad simulator earlier this year after winning the Monza GP2 round.

While Giovinazzi has yet to announce his racing plans for 2017, Marchionne said on Monday that the 22-year-old will begin working with the team next year.

"I can confirm that in 2017 he [Giovinazzi] will be our third driver," Marchionne told the media during Ferrari's Christmas lunch.

"We took him because he is a great driver, but I'm am very pleased also that he is an Italian," he added.

Ferrari team boss Maurizio Arrivabene said Giovinazzi will kick off a simulator programme in January, and is expected to drive the 2017 car during in-season testing.

Additional reporting by Roberto Chinchero