"The prospect of being on the Formula One grid next year makes me incredibly happy and I'm simply speechless,"said Schumacher.
"I have always believed that I would realise my dream of Formula One."
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Schumacher,a member of the Ferrari young driver academy,will form an all-new line-up at Haas along with Russian Nikita Mazepin whose signing was announced on Tuesday.
The pair replace Frenchman Romain Grosjean,currently recovering from a fiery crash in the Bahrain Grand Prix last Sunday,and Denmark's Kevin Magnussen.
Schumacher will be in the car next week with Haas slotting him in for Friday first practice at the season-ending Abu Dhabi Grand Prix.
He will also take part in a young driver test at Yas Marina on December 15.