CARLOS Sainz Jr. has been tipped to sign with Ferrari for the upcoming Formula 1 season.

According to Sky Sports, the talks are at a very advanced stage and the Spaniard will likely be announced in the next couple of days.

This comes as four-time champion, Sebastian Vettel will not renew his contract with the Italian team.

Sainz, is currently still with McLaren and enjoyed his most successful season last year, finishing sixth, while also making the podium for the first time in his career at the Brazil Grand Prix.

A product of Red Bull’s junior programme, Sainz won the Formula Renault 3.5 title in 2014.

The 25-year-old then made his F1 debut in 2015 with Toro Rosso and also spent a season at Renault before moving to McLaren.

The British team was keen to keep Sainz and had started early contract talks in order to extend his stay for another season, but it’s looking likely that they’ll now have to turn elsewhere.

The Madrid born driver is now the favourite for one of motorsports most coveted seats.

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