Alonso quit F1 in 2018, but has agreed to replace Daniel Ricciardo in 2021, with the Australian driver on his way to McLaren.
Two-time F1 world champion Alonso, who turns 39 this month, will join Esteban Ocon for his third spell with Renault.
The Spaniard won back-to-back titles in 2005 and 2006 during his first stint with Renault before joining McLaren.
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