Ambrose, the 2003 and 2004 V8 champion, will team up with Dick Johnson Racing for 2015 after the iconic team confirmed on Monday it will partner with American motorsport great Roger Penske.

The Tasmanian announced last week he was returning home, bringing an end to his career in the American NASCAR series.

Penske runs the IndyCar team which won this year's IndyCar championship with Australian Will Power.

Known as "the Captain", Penske has also won the iconic Indianapolis 500 15 times.

He says partnering with Dick Johnson Racing for next season's V8 Supercars championship was one of the biggest challenges of his career.

"We believe in building our businesses through racing and our success on the track," Penske said.

"With our new business ventures in Australia, it makes sense to showcase our brands through the V8 Supercars Championship and the opportunity to work with DJR and Marcos Ambrose convinced us to go forward."

Ambrose said he was thrilled to be returning to V8s.

"This is a great opportunity to return home to a place that I love in a series where I've experienced a lot of success," he said Ambrose.

MARCOS AMBROSE'S RECORD IN V8 SUPERCARS

*2003 and 2004 V8 Supercars champion

*One of only 12 multiple champions in Australian Touring Car/V8 Supercars championship history

*15 round wins, 30 podiums, 18 pole positions from 65 rounds between 2001-2005

*28 individual championship race wins

*2001 Bathurst 1000 pole sitter