Japanese car manufacturer Honda is returning to Formula One in 2015 as an engine supplier to the automaker's former partner McLaren of Britain.

Honda president Takanobu Ito announced the decision at a press conference in Tokyo on Thursday.

Honda was an entrant, constructor and engine supplier between 1964 and 2008 but pulled out of F1 after the global financial crises.

Honda Motor's sales have risen amid improving economic conditions in Japan and overseas. The company has also benefited from a weakening yen, as it raises the value of overseas earnings and helps lower selling prices abroad. (AP)