Formula One will return to Austria next year after an 11-year absence.
The Spielberg circuit owners Red Bull say a deal has been struck between Red Bull's billionaire founder Dietrich Mateschitz and Formula One's 82-year-old chief executive Bernie Ecclestone.
Austria last hosted a grand prix in 2003, after which the circuit was due to be extended, but construction work was stopped midway and the track became unusable for years before Mateschitz bought and rebuilt it, renaming it the Red Bull Ring.
The Austrian round is expected to be confirmed for July next year, and it could be at the expense of another European round, possibly Hungary.
Formula One is already due to introduce two new grands prix in 2014 - one at Russia's Winter Olympic venue Sochi and the other in New Jersey with the Manhattan skyline as a backdrop.
Bernie Ecclestone is due to present a provisional calendar to the World Motor Sport council in September.