Brooklyn, MI -- (Sports Network) - Tony Stewart has named Ryan Newman as the second driver of Stewart-Haas Racing. Newman, the 2008 Daytona 500 champion, will drive the No.4 Chevrolet for the team, starting next year.

The announcement was made Friday at Michigan International Speedway, the site of this weekend's NASCAR Sprint Cup Series race. Newman also made his stock car debut at Michigan in 2000 when he competed in an ARCA event.

"It's just a great opportunity," Newman said. "I think a lot of Tony from a personal standpoint as well as a driving standpoint. I've seen a success from an ownership standpoint with the USAC cars and the World of Outlaw cars."

Newman has signed a multi-year agreement with the team. Sponsorship and a crew chief for the No.4 car have yet to be announced.

Last month, Newman and Penske Racing announced they were parting ways at the end of the season. He has been with the Penske since 2000. Newman has 13 wins in 246 career starts, and received rookie of the year honors in NASCAR's top division in 2002. His 43 career poles rank him 10th in the all-time Cup pole winners list.

Since winning the Daytona 500 in February, Newman has posted just six top-10 finishes. He is currently 15th in the point standings. Newman had been widely rumored to be in the second seat for Stewart's new team since June.

"It's very important to Stewart-Haas Racing. Being able to announce that we've got Ryan on board is something that we've all been looking forward to since the day we first spoke with Ryan and (wife) Krissie about coming over here and joining the team," Stewart said. "We know what it's done for the organization once we announced that I was coming over. The flood of personnel that have come over and wanted to join the team since we made that announcement has been huge, and with the addition of Ryan coming on board now, I think is even going to make that list grow even larger."

Stewart will merge with Haas CNC Racing next year to serve as both driver and co-owner of the newly-formed Stewart-Haas Racing. The two-time Cup champion was granted a release from the final year of his contract with Joe Gibbs Racing, a move that will take effect at the conclusion of the 2008 season.

Stewart will drive the No.14 Chevrolet with Office Depot and Old Spice serving as co-primary sponsors. A crew chief for Stewart's team will be named at a later date.