The skies above the newly constructed Sochi Autodrom - which will stage the first Russian Grand Prix next month - will play host to a round of the Red Bull Air Race next year.
A three-year deal has been signed for the World Championship to come to this year's Winter Olympic and Paralympic host city.
The promoter of the Russian Grand Prix will act as the organiser of the event.
A cooperation agreement to bring the Air Race to Sochi was signed by Krasnodar Region administration deputy head Alexander Saurin, and Red Bull Air Race chief executive Erich Wolf.
The sport is not unfamiliar with using Formula One facilities for its events, with the Texas Motor Speedway in the United States hosting a round earlier this month, and Austria's Red Bull Ring staging the finale next month.
"Red Bull Air Race is a brilliant initiative for the further post-Olympic development of Sochi, making great use of the city's new infrastructure set up," said Saurin.
"This event will be a perfect start to the tourist season, bringing in a significant number of spectators.
"We are delighted to see Sochi continuing its successful progress in event tourism, offering exclusive and spectacular events that will become a catalyst for positive change in the entire Krasnodar region".
This year's World Championship is made up of eight rounds held between February and October.
The United Arab Emirates, Croatia, Malaysia, Poland, Great Britain, the United States and Austria are all stops on the calendar.
Sochi is due to hold its 2015 race in May.
"Russia has a long history in aviation and many Russian fans of the Red Bull Air Race have been following the series since its inception in 2003," said race chief executive Wolf.
"We have been making great efforts to bring the sport to our fans and are delighted that we can now officially announce that in 2015 a Red Bull Air Race will take place in Sochi.
"Sochi is very experienced in staging major events such as the Olympic Winter Games in 2014 and the upcoming."
The Russia Grand Prix is scheduled to be held around the 5.8 kilometre Sochi Autodrom - which snakes around the indoor venues used during Sochi 2014 - on October 12.
September 2014: Sochi track hosts first race ahead of Formula One debut
August 2014: Alan Hubbard: Air racing - a spectacle that has every chance of gracing the Olympics
June 2014: Sochi Formula One track "99 per cent" ready, claims official
May 2014: Sochi's Formula One race "not in doubt" as Ukraine crisis sparks cancellation fear
December 2013: Abu Dhabi Formula One chief drafted in to work on inaugural Russian Grand Prix in Sochi