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Karthikeyan previously drove in F1 for the Jordan team in 2005.
“I have always maintained that I have not given up on my desire to return to the pinnacle of world motorsport,” Karthikeyan said.
“I am confident that I still have the pace, the fitness and the will to succeed in Formula One.”
Since his time at Jordan, he had been a test driver for Williams, competed in A1GP, the World Cup of Motorsport, the Le Mans series including the Le Mans 24-hour race, followed by 2010 stints in the NASCAR truck series and Superleague Formula.
In the LeMans series, he drove for the Audi team of current Hispania team principal Colin Kolles, who was also at Jordan when Karthikeyan drove there.
“I have known Narain for a long time and he can revert to the experiences he gained when he was competing for Jordan Grand Prix and being test and reserve driver for Williams F1,” Kolles said.
“I am sure that his experience and speed will be very useful for the team during the season.”
In a statement to Indian media, Karthikeyan thanked the Tata industrial group for their help in getting him the Hispania drive, suggesting he will bring much-needed sponsorship money with him as the team seeks funds to boost its resources for its second F1 season.
Tata manufactures the Nano road car, and also has the rights to automotive brands including Jaguar and Land Rover.
Karthikeyan’s hiring comes as India prepares for its first ever Formula One race, to be held near Delhi in October.
He is the second Indian hiring for Hispania following Karun Chandhok, who drove in the first 10 races of the 2010 season before being replaced by Japan’s Sakon Yamamoto.
Confirmation of Karthikeyan’s return meant there were only three F1 seats left unconfirmed for the coming season: the second drive at Hispania plus the two seats at Force India.
Force India was expected to retain Adrian Sutil for next season and Vitantonio Liuzzi is under contract but also reportedly under threat to retain his position with the team.
