Williams have confirmed Martini as their 2014 title sponsors and will now be known as Williams Martini Racing.
Last month reports emerged claiming that Martini, who have been away from F1 for five years, could return to the sport with Williams.
That was finally confirmed at the team's Grove headquarters on Thursday when Williams revealed their 2014 livery.
The new colours are predominantly white, shot through with blue and red.
"We are thrilled to welcome Martini to the Williams family and officially launch Williams Martini Racing," said Sir Frank Williams.
"Williams and Martini share a rich history in the world of motorsport, and the values of our two brands and our shared passion for racing make this partnership a natural fit.
"It will be great to see the distinctive stripes of Martini Racing return to Formula 1 once again in unison with Williams."
The sponsorship deal is a multi-year one which Andy Gibson, Chief Marketing Officer of Bacardi, says offers a "powerful" marketing platform for his brand
"The decision to partner with Williams was a natural one for us as it provides an unparalleled opportunity for the Martini brand to connect with consumers through one of their lifestyle passions, Formula One racing," Andy Gibson said.
"Martini will give consumers a taste of life in the fast lane, bringing a renewed sense of Italian style and glamour to the track and beyond.
"Williams Martini Racing provides a powerful, integrated marketing platform and delivers dynamic opportunities that will strengthen the Martini brand."