The Italian, who has retained strong links with Ferrari as he has progressed up through the ranks, was facing the prospect of going through the exit door at Alfa Romeo after a poor start in the 2019 campaign.
But a much needed upturn in form saw him keep hold of his seat at Alfa Romeo for another year and also emerge as a potential contender for a seat at Ferrari with Sebastian Vettel nearing the end of his current contract.
Ferrari had been holding initial talks with Vettel prior to the coronavirus pandemic putting Formula 1 on hold until further notice, but Giovinazzi is still viewing 2020, at the moment, as a key year for him as he attempts to bring a lifelong ambition to reality.
“The year in F2 has been really important for me, but this year could really be the key for my career,” Giovinazzi said in a interview with Sky Sports in Italy.
“I know it and I won’t hide: driving Ferrari has always been my dream. If I look back and see when I was young I always had a red tracksuit and it’s great to be in the mix for a seat in Ferrari – but now it’s all up to me.
“If I have a good season I can really fulfil my dream and finally drive a Ferrari.”