If they take up the extra season, it will mark 18 consecutive campaigns that Pirelli have exclusively provided tyres to F1. The new contract includes provisions for F2 and F3, also.
Tyre wars 'fantastic'... if you win
Formula 1 has not had a tyre war since 2006, when Bridgestone and Michelin both provided the rubber.
In the previous season, the tyre war led to one of F1's most infamous races, when at the United States Grand Prix, all fourteen drivers running Michelin tyres retired after the formation lap. This move came after Michelin tyres had failed in practice at Indianapolis' banked turn.
Pirelli boss Isola does not want tyres to become the centre of attention in F1 again, but remembers his own tyre war experiences in GT and American Le Mans well.
"Obviously for us, a tyre company, it adds an additional... you are part of the team, you are part of the result, you develop tyres that can make a difference," he told The Drive.
"So it's a different approach. But now, even if we are the sole supplier, still you have a different technical challenge.
"In the past with [a] tyre war, I believe that sometimes, the final result of the race was defined too much by the tyres," he added.
"We need to be sure that the final classification is for the best driver first, and the best car second. Not the best tyre: this is a situation that is for the sport, not ideal.
"For the tyre manufacturer, it's fantastic—if you win! First of all, I am a motorsport fan, and I [am] lucky enough to work in an environment that I like.
"But as a motorsport fan, the real hero for me is the driver first and the team that is able to develop the best car."