It will increase the number of cars on the starting grid from 20 to 22 for the first time since 2002 when the Arrows team went into liquidation.
The team, fronted by the Japanese former Formula One driver Aguri Suzuki, is based in the Leafield technical centre near Chipping Norton, formerly the Arrows headquarters.
This agreement was necessary because, although Super Aguri had tendered an official entry before the original November 15 deadline, they failed to post the necessary $48million (£27.5million) bond required from all new teams entering the world championship, according to the UK's Guardian newspaper.
It is understood that this sum, repayable to the team in 12 monthly instalments throughout its debut season, will be lodged within days.
The Super Aguri team has been promised backing from Honda, who will supply their 2.4-litre V8 engines to the team as means of providing a seat for the Japanese driver Takuma Sato.
