The Anglo-Thai made his return to the F1 grid with Williams this year after spending last season in a reserve role with Red Bull, having lost his seat to Sergio Perez following a difficult 2020 campaign. 

Albon has impressed during his first F1 season with Williams and his re-signing at the British outfit comes as little surprise. 

The 26-year-old has scored all three of Williams’ points so far this season by finishing 10th in Australia and ninth in Miami.

"It’s really exciting to be staying with Williams Racing for 2023 and I look forward to seeing what we can achieve as a team in the remainder of this season and next year," said Albon.

"The team is pushing hard to progress, and I am really motivated to continue this journey and further develop our learnings together."

Williams CEO and team principal Jost Capito said: "Alex is a tremendous driver and valued member of Williams Racing, so we’re thrilled to be able to confirm we will be working with him on a long-term basis.

"Alex brings a great blend of skill and insightful learnings that will help bring the team greater success in the future. He’s a fierce competitor, has proved a popular and loyal team member and we are delighted that he will provide a stable base for us to continue to develop in this new F1 car era."

Who will be Albon's teammate? 

Williams are yet to confirm who will be Albon’s teammate for next year. 

The Grove-based squad were expected to replace Nicholas Latifi by taking Oscar Piastri on loan from Alpine for 2023, but the reigning F2 champion has reportedly agreed a deal with McLaren. 

Alpine announced Piastri as Aston Martin-bound Fernando Alonso’s replacement on Tuesday evening, only for the Australian to deny he had signed the deal

Confirmation of Albon’s continuation with Williams takes him off the market as a potential alternative option for Alpine. 

Reigning Formula E champion Nyck de Vries and F2 championship hopeful Logan Sargeant, who is a Williams Academy driver, are also believed to be in the frame for the second Williams seat. 

21-year-old Sargeant will become the first American to take part in an F1 session since Alexander Rossi in 2015 when he makes his FP1 debut for Williams at the United States Grand Prix in October. 

Sargeant currently sits third in the F2 standings and would need to finish fifth or higher this year to secure the necessary points to secure an F1 superlicence.