Kimi Raikkonen signs Ferrari contract renewal for 2018 season

Ferrari has extended the contract of Kimi Raikkonen until the end of next season, ending speculation the Finnish driver could be replaced.

Team president Sergio Marchionne labeled Raikkonnen “a laggard” before July’s Austrian Grand Prix, questioning the 37-year-old’s commitment and desire going forward in Formula One.

But recent good form – including podium finishes in the Finn’s last two races – have paved the way for another year at the Maranello outfit.

It will be Raikkonen’s fifth consecutive campaign with Ferrari, making him the Italian team’s second longest serving driver of all time.

WATCH: Catching up with F1’s ‘Iceman’

As it stands, only Michael Schumacher (179) and Felipe Massa (139) have made more grand prix starts than his total of 122.

Ferrari 125-S, 1947 —

The first ever Ferrari was fired up and left the Maranello factory gates 70 years ago. What followed would reshape motorsport history.

Ferrari 125-S side view, 1947 —

That car, the 125-S, boasted a 1.5-liter V12 capable of producing around 118bhp -- a far cry from the speed machines of today.

Enzo Ferrari, 1920 —

Born in 1898 on the outskirts of Modena -- known for "fast cars and slow food" -- the company's founder Enzo Ferrari devoted his entire life to the pursuit of speed. The Italian is pictured here as a young man sitting in an Alfa Romeo 40-60 HP Racing Type.

Ferrari factory, 1947 —

Much has changed at the Maranello factory since this day in 1947, but the iconic factory gates remain much the same.

Ferrari 125 F1, 1949 —

The 125 F1, driven here by Peter Whitehead, was Ferrari's first Formula One car. The Italian marque has since accumulated over 5,000 races victories across various classes.

Enzo Ferrari, 1961 —

By the '60s, Ferrari was a dominant force on the road and the track. In 1969, Enzo signed an agreement with Fiat Group giving it a 50% stake in the company.

Ferrari 275 GTB-4 —

Thanks to a host of celebrity owners, the Ferrari brand was also rapidly building a reputation for elegance and style. Here, Steve McQueen stands proudly beside his Ferrari 275 GTB 4 by Scaglietti.

Ferrari GTO, 1984 —

Rolling Stones frontman Mick Jagger, pictured picking up his Ferrari GTO at the factory, was another that added to the magnetism of the brand.

Ferrari 312T, 1979 —

By the 1970s, Ferrari's F1 cars were capable of over 500bhp. South African driver Jody Scheckter, pictured, won the 1979 World Championship.

Wind Gallery for Aerodynamic Tests —

Ferrari tested new designs using 1/3 scale models -- on show at the exhibition.

Kyalami Circuit, 1997 —

As the turn of the millennium approached, what had started with Enzo Ferrari facilitating gentlemen racing their cars had evolved into a global phenomenon. Here, racing enthusiasts gather at South Africa's Kyalami Circuit to celebrate Ferrari 50th Anniversary.

Ferrari 250 GTO, —

The 1962 Ferrari 250-GTO is most expensive car ever sold at auction, having fetched over $38,000,000. Here a selection of the highly coveted vehicles gather on the model's 20th Anniversary at the Pierre Bardinon estate in France.

Ferrari World, Abu Dhabi, 2010 —

An expansive Ferrari-branded amusement park, home to the world's fastest roller coaster, opened its doors in 2010.

Ferrari J50, 2016 —

"Ferrari's story has been one of the great adventures of the industrial age," says, Andrew Nahum, curator of the exhibition.

Ferrari J50, 2016 —

"Ferrari uses the subtle and often unseen techniques of automobile design but with the utmost care and precision," adds Nahum. "The exhibition provides an insight into the history and practice of the whole private world of automotive design."

Ferrari pit stop, 2017 Chinese GP —

The Ferrari Under the Skin exhibition opens on 15 November 2017 and will run until April 2018.

It will feature insight into the life of Enzo Ferrari, unique cars and rarely seen documents -- all illustrating just how far the manufacturer has come.

What's your favorite Ferrari of all time? Have your say on CNN Sport's Facebook page

The evolution of Ferrari — 70 years of speed and style

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Raikkonen previously raced for the Scuderia between 2007 and 2009, winning the driver’s world championship in his first year.

Can Kimi Raikkonen challenge for another F1 world title? Have your say on CNN Sport’s Facebook page

However, he hasn’t won a race in the Ferrari red since the 2009 Belgian Grand Prix.

While teammate Sebastian Vettel leads this year’s drivers’ championship, Raikonnen trails in fifth, 86 points behind, though on two occasions the Finn surrendered two possible victory chances – in Monaco and Hungary – to boost the German’s title chances.

The 30-year-old Vettel is out of contract at Ferrari at the end of the year.