Former Ferrari team boss Stefano Domenicali is set to replace Chase Carey as the sport's chief executive before next season, senior sources confirmed on Tuesday.
Domenicali, 55, is currently chairman and chief executive of Italian sportscar maker Lamborghini and also serves as head of the governing FIA's single-seater commission.
The Italian was in charge of Ferrari's Formula One team from 2008 to 2014 and presided over their most recent title, the 2008 constructors' championship.
Carey has presided over Formula One since 2017, when U.S.-based Liberty took over the sport and ousted former supremo Bernie Ecclestone, and could stay on as chairman.
There was no official comment from Liberty Media-owned Formula One.
Carey was instrumental in securing the new F1 Concorde Agreement from 2021 to 2025, which binds the teams to the sport and determines the sport's distribution of prize money as well as its framework of governance.
It had long been speculated that he would step down once the agreement was signed with all 10 teams.
The original report on Racefans.net, citing "a source with knowledge of the situation", said the Italian was expected to take over as chief executive before the start of next season.
The appointment would leave three of the sport's top jobs in the hands of former Ferrari men.
The FIA is run by a former Ferrari team boss, Frenchman Jean Todt, while Formula One's managing director for motorsport Ross Brawn is a former Ferrari technical director.
Todt's third term expires next year, however, and he is not expected to stand again.