The 26-year-old had said he was talking with the Spanish team at the Brazilian Grand Prix a fortnight ago.
He also spoke to other new teams Lotus and Manor GP, plus one existing outfit.
"It is an extraordinary honour to return the name of Senna to Formula 1," said delighted Campos Meta chief executive Rodriguez de Castro.
"The deal with Senna confirms and re-enforces our prime objective of being not only the first Spanish Formula 1 team, but rather the first Iberian-American F1 team."
Senna said: "I'm absolutely delighted to fulfill a lifetime dream. Now it is time to set new targets."
He finished as runner-up in the 2008 GP2 feeder series and tested with Honda last November before the Japanese manufacturer pulled out of F1 at the end of the year
He also spoke to other new teams Lotus and Manor GP, plus one existing outfit.
"It is an extraordinary honour to return the name of Senna to Formula 1," said delighted Campos Meta chief executive Rodriguez de Castro.
"The deal with Senna confirms and re-enforces our prime objective of being not only the first Spanish Formula 1 team, but rather the first Iberian-American F1 team."
Senna said: "I'm absolutely delighted to fulfill a lifetime dream. Now it is time to set new targets."
He finished as runner-up in the 2008 GP2 feeder series and tested with Honda last November before the Japanese manufacturer pulled out of F1 at the end of the year
When the team was rescued by team principal Ross Brawn, he opted to retain the experienced duo of Jenson Button and Rubens Barrichello at the expense of the promising Senna.
But two weeks ago, at Interlagos, Senna said: "I'm looking for a team that has the potential to deliver results and consistency.
"It's vital to be in Formula 1 next year as maybe it will be lost if it doesn't happen then."
Senna, who is the son of Ayrton Senna's sister, Viviane Lalli, is driving in the Le Mans sportscar series this season.
He had ruled out a move to the new Lotus F1 team for sentimental reasons alone.
It was with Lotus that Ayrton claimed his first pole position and victory in 1985.
The three-time champion, revered as one of the greatest Formula 1 drivers of all time, died when he crashed his Williams in the 1994 San Marino Grand Prix at Imola.
But two weeks ago, at Interlagos, Senna said: "I'm looking for a team that has the potential to deliver results and consistency.
"It's vital to be in Formula 1 next year as maybe it will be lost if it doesn't happen then."
Senna, who is the son of Ayrton Senna's sister, Viviane Lalli, is driving in the Le Mans sportscar series this season.
He had ruled out a move to the new Lotus F1 team for sentimental reasons alone.
It was with Lotus that Ayrton claimed his first pole position and victory in 1985.
The three-time champion, revered as one of the greatest Formula 1 drivers of all time, died when he crashed his Williams in the 1994 San Marino Grand Prix at Imola.
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