The Russian Grand Prix will be staged at a new purpose-built circuit just outside St Petersburg from 2023.
The Sochi Autodrom has been the venue for the race since it was added to the calendar in 2014.
Autodrom Igora Drive, 54 kilometres from St Petersburg, will be the next Russian track to host a Formula One Grand Prix after it was given Grade 1 status by the FIA last year.
"I am pleased to confirm following joint intensive work with our Russian partners and detailed assessment of Igora Drive – Formula One will be racing at that amazing circuit from 2023," said F1 president and CEO Stefano Domenicali.
"I am impressed by St Petersburg and believe that the Russian Grand Prix at Igora Drive will be an incredible event."
The new circuit will feature 10 different track layouts in an area of around 100 hectares.
Lewis Hamilton has won four times in Sochi, but it was his Mercedes team-mate Valtteri Bottas who took the top step of the podium last year.
The 2021 Russian Grand Prix will be staged at the Sochi Autodrom on September 26.