Elsewhere, Mercedes put an end to the speculation surrounding their driver lineup for next season, confirming Kimi Antonelli as a new addition to the team. He will join forces with George Russell, while Hamilton is set to make the move to Ferrari.
Ousted by Hamilton at Ferrari, Carlos Sainz has recently decided to join Williams Racing for the upcoming season, replacing Franco Colapinto and forming a new partnership with Alex Albon.
Jack Doohan will step up from reserve to a full-time seat at Alpine, replacing the departing Esteban Ocon and partnering with Pierre Gasly.
Max Verstappen's contract extends until 2028, making him the immovable rock at Red Bull. His team-mate will now be Lawson in 2025 following Perez's decision to take a sabbatical.
Of course, losing Hamilton is a huge blow for the Silver Arrows, but Antonelli's arrival offers exciting possibilities. The young talent could seamlessly transition into the Brackley-based squad alongside Russell, whose contract expires at the end of the 2025 season.
Signing Hamilton shows the Scuderia are going all-in on fighting for the championship. Leclerc's recent contract extension brings stability to the team, while Hamilton's skills and experience could be the key ingredients for victory.
Lance Stroll's position in the team is secure after the announcement of a new deal that will see him remain until 2025 and beyond, while Alonso has also signed a contract extension with the team until the end of 2026.
Alpine: Pierre Gasly and Jack Doohan
Esteban Ocon left the team after the Qatar Grand Prix to join Haas in 2025, with Jack Doohan filling his seat. The French team also secured Pierre Gasly's services with a fresh multi-year deal that will see him stay with the team until 2025 and beyond.
In November, however, the team announced that they would be axing both Valtteri Bottas and Zhou Guanyu, and replacing them with Hulkenberg and 20-year-old Brazilian Gabriel Bortoleto.
Visa Cash App RB: Yuki Tsunoda and Isack Hadjar
Yuki Tsunoda has secured his spot on the grid in 2025, but Daniel Ricciardo was axed for Liam Lawson towards the end of 2024.
However, following Lawson's promotion to Red Bull he will be replaced by F2 star Isack Hadjar.
Williams: Carlos Sainz and Alex Albon
The Grove-based squad have secured Sainz's services next season, replacing Sergeant and teaming up with Albon, who recently signed a long-term contract extension.