Fuji Speedway will replace Suzuka International Racing Circuit as host of the 2007 Formula One Japanese Grand Prix.

"Fuji Speedway will be the new home of the Japanese F-1 Grand Prix," Formula One chief executive Bernie Ecclestone said in a statement released Friday in conjunction with Fuji International Speedway Co. Ltd.

This year's Japanese Grand Prix will be held Oct. 8 at the Suzuka circuit. Suzuka's contract to host the Japanese GP expires after the 2006 season and it is expected that Fuji Speedway will host future races starting from Oct. 2007.