Raikkonen, 33, who has tired of long-running talks with Lotus, has finally decided to join the Maranello team with whom he won his only F1 world championship in 2007.
Reports suggests, Ferrari is all set to sign Kimi Raikkonen after its president's Luca Di Montezemolo approved the deal which means that Felipe Massa's eight-year spell at the Italian outfit will finally conclude at the end of the 2013 season.
Ferrari are planning to partner the Flying Finn with double champion Fernando Alonso to create the most powerful line-up in Formula 1.
Interestingly, it was Kimi Raikkonen who had to make way for Fernando Alonso in 2009 after spending three years with Ferrari. Lotus will reportedly replace the Finnish driver with Nico Hulkenburg.