Currently with Ducati, Lorenzo holds 10th place in the 2018 MotoGP standings after winning the Italian MotoGP on Sunday, and is set to join reigning World Champion and fellow Spanish rider Marc Marquez at Honda, reports Efe.
In its statement, Honda said: "From 2019, Lorenzo will become teammate to four-time MotoGP World Champion Marc Marquez: two great champions with great talent and high hopes that will make a stronger team and contribute to the development of HRC."
Lorenzo had hinted this would be his last season with Ducati following his Italian MotoGP win.
On Tuesday, Honda announced it was parting ways at the end of the season with Spanish rider Dani Pedrosa, who has not made the podium in any of the six races so far this season.
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