He will join Penske teammates Will Power and Helio Castroneves.
Montoya has 11 IndyCar victories to his credit, as well as victories in Formula 3000, Formula One, NASCAR and the CART Indy Car Series.
I am really excited to join this legendary team beginning next year. I have had the opportunity to drive for some of the best racing teams in the world and I have always admired Roger Penske and his organization. I consider it an honor to be offered the opportunity to drive for Team Penske.
Team owner Roger Penske said:
Juan is a proven winner at all levels of motorsport. He has won a lot of races and championships and he has an extremely passionate fan base. We look forward to building on his successes together and we believe he will be a great addition to Team Penske.
This news comes days after Montoya turned down an IndyCar ride with Andretti Autosport.
Montoya expressed an interest in signing with Andretti after he was told he would not return to Earnhardt Ganassi Racing’s No. 42  Sprint Cup Chevy.
Andretti owner Michael Andretti was looking for sponsorship for Montoya , when Montoya informed him that he was no longer interested in a partnership.
Montoya was also reportedly offered Furniture Row Racing’s No. 78  Sprint Cup Series Chevy. But, he was looking for a ride that would be competitive week in and week out.