Sebastian Vettel is to remain with Red Bull Racing until at least the end of the 2015 season after inking a new deal with the Milton Keynes-based team.

The German has taken the F1 drivers title for the past three years and already holds a 36 point lead this time around as he seeks to match Juan Manuel Fangio's record of four successive championship wins.

Only Michael Schumacher, with five from 2000-2004, has won more crowns consecutively.

Vettel's new agreement will see him spend at least one more year with Red Bull, with his current deal having been set to come to an end at the conclusion of the 2014 season.

It also brings to an end speculation that the German could be set to join Ferrari for the 2015 season, with the 25-year-old having long been mentioned as a possible future team-mate for Fernando Alonso.

"Infiniti Red Bull Racing is happy to confirm that World Champion Sebastian Vettel has extended his multi-year contract with the team until the end of 2015," a short statement from the team read.

"A previous member of the Red Bull Junior squad, Sebastian first drove for Red Bull Racing in 2009. During his Formula One career, the 25-year-old has achieved 29 wins, 51 podiums and 39 pole positions. He is the current Formula One World Champion and also a triple World Champion, having retained the title since he first won it in 2010."

Vettel's current team-mate Mark Webber is out of contract at the end of the year, when his current yearly deal runs out.