Perez joined the Milton Keynes-based team from Racing Point at the end of 2020, after the outfit – now rebranded Aston Martin Racing – decided to axe him to make room for Sebastian Vettel.
Despite already winning a race with Red Bull – something Alex Albon and Pierre Gasly failed to do – the Mexican hasn’t exactly lived up to his pre-season expectations, with him rarely being able to get close to Max Verstappen’s raw pace.
Perez’s new contract comes as a blow to Pierre Gasly and Alex Albon, as they will now have to wait at least another year-and-a-half for an opportunity to drive for Red Bull.
Announcing his fresh Red Bull deal, Perez said: “I’m really happy to be continuing with a great team like Red Bull into the new era of Formula One and it’s a great opportunity for me.
“Everyone starts from zero next year with the new regulations, so my only goal is to go all the way to the top with Red Bull.
“It always takes time to get on top of everything when you join a new team but things have worked well this season and I really enjoy being a part of the Red Bull family.
“We’ve been working hard to deliver results so it’s great to see the team have faith in me for the future. We have so much more to achieve together and we still have a great challenge on our hands this season, so I really hope we can finish the year on a high and carry that momentum into 2022.
“I want to thank all my supporters around the world and especially those in Mexico. From my sponsors to my fans, they have been so enthusiastic since I joined Red Bull so I really hope we can reward them by reaching the top and winning the title.”
Meanwhile, Red Bull team principal Christian Horner described Perez as a “highly respected team member” and said “his experience and race-craft are invaluable as we fight for the Constructors’ Championship.”
Continuing, he said: “His integration into the wider team has been seamless and we have been impressed by his performances during the first half of the season which demonstrate what he’s capable of in our car.
“Next year we move into a new era of Formula One with completely revised regulations and cars, and with over 200 races and a decade of experience under his belt, Checo will play an integral role in helping the team navigate this transition and maximise the RB18.
“Our current attention is on ending the 2021 season as strongly as possible and we look forward to seeing Checo build on a first successful season with the team.”
Red Bull are currently 12 points adrift of Mercedes at the summit of the Constructors’ Standings, and they’ll be looking to claw their way back to the top this weekend in Belgium.