The team formed out of a Rotherham garage by former driver John Booth will race again as Marussia, despite being wound-up at the end of the 2014 campaign amid debts of £30m.
But team principal Booth, along with chief executive Graeme Lowdon, secured a rescue package that ultimately saw parent operation Manor GP secure a company voluntary arrangement to pay off their creditors.
It has left them short of time in the race to make the Australian Grand Prix on March 15.
But Booth and his team – who have relocated back to their old base at Dinnington after their Oxfordshire base was sold to next year’s inductees, Haas F1 – are working non-stop to get there.
Booth said: “We are very close to getting to Melbourne, everyone’s working round the clock to make it.
“The cars are coming together well and we are working out of several centres, so I’m confident we will get there.
“We are back at Dinnington and we’re also using a base at Silverstone. The aim is to get everything ready by the end of next week.”
The team will use a 2014 car, which will again run with Ferrari supplied power units and will be modified to meet the new season’s demands.
British rookie Will Stevens as their first driver has been named as their first driver.
A statement on the FIA website yesterday read: “Their application to compete has now been formally approved by the FIA, subject to the team’s full compliance with the 2015 regulations and to Stevens’ holding of a Super Licence.”