The 44-year-old became the only Canadian to land the F1 title in 1997. The winner of 11 grand prix he moved on to compete in the Le Mans 24 Hour and had a spell in NASCAR.
The son of the late Gilles Villeneuve, who also has an Indianapolis 500 success to his name, will drive alongside Frenchman Stephane Sarrazin for Venturi, replacing Nick Heidfeld.
“This is the first time in several years that I will participate in a full championship,” said Villeneuve, who tested for the team in France last week.
Monaco-based Venturi are debutants in the all-electric eight constructor championship for FormulaE’s second season which kicks off in China in October. – Agence France-Presse