The purchase comes on the eve of championship leader Stoffel Vandoorne defending his advantage atop the standings alongside teammate Nyck de Vries at this weekend’s Berlin ePrix.
Whether McLaren will stick with the existing driver line-up has not been confirmed after the deal was announced on Saturday.
The move comes with Formula E preparing to introduce its Gen3 era of cars for next season, a campaign which Mercedes had already announced its intention to pull out of.
“McLaren Racing always seeks to compete against the best and on the leading edge of technology, providing our fans, partners and people with new ways to be excited, entertained and inspired,” said Zak Brown, McLaren Racing CEO.
“Formula E, like all our racing series, fulfils all those criteria. As with all forms of the sport we participate in, Formula E has racing at the centre but will be strategically, commercially and technically additive to McLaren Racing overall.
“I firmly believe that Formula E will give McLaren Racing a competitive advantage through greater understanding of EV racing, while providing a point of difference to our fans, partners and people, and continuing to drive us along our sustainability pathway.”