Carlos Sainz has penned a contract extension with Ferrari to take the Formula One driver through the end of the 2024 season.

The Spaniard, who originally joined the Italian outfit for the 2021 season and finished fifth in last year's world drivers' championship with a best finish of second at the Monaco Grand Prix.

Following a bright start to the new campaign, he has now been handed a renewed deal to take him through the next two years.

"I am very happy to have renewed my contract with Scuderia Ferrari," Sainz said upon confirmation of his extension on Thursday. "I have always said that there is no better Formula 1 team to race for.

"After over a year with them, I can confirm that putting on this race suit and representing this team is unique and incomparable. 

"My first season at Maranello was solid and constructive, with the whole group progressing together. The result of all that work has been clear to see so far season."

Very happy to renew two more years with @ScuderiaFerrari! Putting on this suit and representing this team is a great honour for me. Ferrari is fighting again at the front of the field and I’ll give it all to try and win both Championships! Vamos!

https://t.co/zvaaeoRets pic.twitter.com/oeOF6ZgnQD

— Carlos Sainz (@Carlossainz55) April 21, 2022

In his first season at the team, Sainz posted four podium finishes – double what he had achieved across the six seasons prior in F1.

Back-to-back finishes on the steps across the first two races of the new campaign, before a retirement in Australia, means he sits third in the drivers' standings so far this term.

He is still chasing a maiden win, however, and sits seventh on the all-time list for most races without a victory in the sport, with 144 under his belt.

"I feel strengthened by this renewed show of confidence in me and now I can’t wait to get in the car, to do my best for Ferrari and to give its fans plenty to cheer about," Sainz added.

"The F1-75 is proving to be a front-runner, which can allow me to chase my goals on track, starting with taking my first Formula 1 win."

Sainz will hope to make it three podium finishes in four races when he heads to Imola this weekend for the Emilia Romagna Grand Prix.