The Israel Cycling Academy will replace Katusha on the cycling World Tour after signing a deal on Wednesday to take over the Russian-owned team for its racing licence.
The deal is subject to approval by the International Cycling Union (UCI), the Israeli team (ICA) said in a statement posted on Facebook.
ICA has raced in the last two Giro d'Italias but the licence opens the door to all the biggest races on the cycling calendar, including the Tour de France.
On Saturday, UCI President David Lappartient said that talks were ongoing during the World Championships in Yorkshire.
The team will combine riders from ICA and the defunct Katusha squad.
Katusha has been in the elite class since 2009. One of its stars, the Russian Ilnur Zakarin has already said he is leaving for CCC, but German Nils Politt is under contract until 2020.
ICA has recruited Irish rider Dan Martin from UAE Emirates and Frenchman Hugo Hofstetter from Cofidis for next year.