As previously reported by Motorsport.com, Iwasa will partner two-time champion Tomoki Nojiri at Mugen next season, taking over the seat vacated by Liam Lawson.
Additionally, it was announced that the 22-year-old Japanese driver will get his first taste of Formula 1 machinery with AlphaTauri in the post-season test to be held after this weekend's Abu Dhabi finale.
"I'm happy to be able to race in Super Formula for Team Mugen next season," commented Iwasa. "I'm really excited to be able compete as a member of such an experienced team and alongside Nojiri, who has experience of winning titles.
"In order to realise my dream of racing in the world's highest category, I'll aim for victories and the championship while learning from Nojiri's strength and speed in each race."
Iwasa has spent the past two seasons racing in F2 with DAMS, scoring five victories in that time, and is third in the standings with just this weekend's Abu Dhabi season finale left on the schedule.
Prior to that, he raced in FIA F3 and French F4, meaning that the 2024 season will be his first full season of car racing in Japan.
"The Super Formula car is faster than F2, which is interesting for me," Iwasa said in an interview with Motorsport.com's Japanese edition. "I also heard from people like Liam [Lawson] that the way of working in the team and the approach towards the weekend is different.
"I will have to adjust to that, and I feel like my abilities as a driver will be tested. I'm also aware that because I am aiming to step up to F1, I have to achieve results immediately.
"Of course it won't be easy, the level of the series is high, but if I don't see it through until the end, then there's no future for me. So I am very motivated."
Iwasa heads into this weekend's F2 finale with a slim mathematical chance of becoming champion, as he sits 39 points behind series leader Theo Pourchaire with the same number of points on offer across the final two races.
Pourchaire is likewise expected to join Super Formula in 2024, with Toyota squad Team Impul looking likely to be his destination.
