The FIA on Monday said it had given Andretti Formula Racing the green light to become Formula One's 11th team after putting forward its application for the third and final selection phase.

It was the only one of four applicants to pass the FIA's review process, but its place on the grid remains subject to it striking a commercial agreement with F1 rights holder Liberty Media.

"We note the FIA's conclusions in relation to the first and second phases of their process and will now conduct our own assessment of the merits of the remaining application," said F1 in a statement.

Motorsport's governing body the FIA in January opened up a process for prospective new entrants to join the championship starting in 2025 or 2026.

Most of the existing teams have been against expansion, with next year's calendar set to feature a record 24 races.

The Andretti bid is being headed by Michael Andretti, a former F1 driver and son of Mario Andretti, F1 world champion in 1978.

Andretti Global revved up its bid to join F1 earlier this year when it announced a partnership with General Motors to provide Cadillac engines for the proposed team. (AFP)