Former Ferrari team boss Stefano Domenicali is set to replace Chase Carey as the sport's chief executive before the start of next season, senior sources confirmed on Tuesday.
There was no official comment from Liberty Media-owned Formula One. The news was first reported by racefans.net and confirmed by Reuters.
The BBC also cited senior sources confirming the appointment.
Domenicali, 55, is currently chairman and chief executive of Italian sportscar maker Lamborghini and also serves as head of the governing FIA's single-seater commission.
The Italian was in charge of Ferrari's Formula One team from 2008-2014 and presided over their most recent title, the 2008 constructors' championship.
Carey has presided over Formula One since 2017, when U.S.-based Liberty took over the sport and ousted former supremo Bernie Ecclestone, and could stay on as chairman.
Racefans.net, citing "a source with knowledge of the situation", said the Italian was expected to take over as chief executive before the start of next season.
The BBC said team bosses had been informed.
The appointment would leave three of the sport's top jobs in the hands of former Ferrari men.
The FIA is run by a former Ferrari team boss, Frenchman Jean Todt, while Formula One's managing director for motorsport Ross Brawn is a former Ferrari technical director.
Todt's third term expires next year, however, and he is not expected to stand again.