The US state of New Jersey will host the Grand Prix of America in 2013, governor Chris Christie has announced.
Formula 1 returns to the USA in 2012 for the first time since 2007 with the US Grand Prix in Austin, Texas.
New Jersey will then add a second US race to the F1 calendar from 2013, on a 3.2-mile street circuit with views of the New York City skyline.
Lewis Hamilton won the last US Grand Prix at Indianapolis Motor Speedway, home of the Indy 500, in 2007.
The event's eight-year run there came to an end when F1 chief Bernie Ecclestone failed to agree new terms with the circuit's owners.
At the 2005 US Grand Prix, 14 of the 20 drivers withdrew immediately before the race over tyre safety concerns.
"I'm pleased New Jersey will play host to Formula 1, bringing one of the world's most popular sports to our backyard," said Christie.
The race will run on existing roads through Port Imperial and at the top of the Palisades in Weehawken and West New York.
He said "up to 100,000 people" were expected to attend across practice, qualifying and race day.
West New York attorney Joe DeMarco said: "It will provide a very challenging course.
"They compare it to Spa in Belgium but it will have the feel of Monaco."
Ecclestone's plans to take a race to the New York area were first revealed when he began talks with representatives of Monticello Motor Club (MMC) in New York in 2009.
Austin-based promoters Full Throttle Productions then overcame competition from MMC to stage a US Grand Prix at a purpose-built track with a deal through to 2021.
But, two years on, an additional deal has been reached with a consortium of investors and city and state governments for a race to take place in New Jersey, to be known as the Grand Prix of America.