The son of 2003 world rally champion Petter Solberg has inked a new deal with the Czech manufacturer and will remain in the WRC's second-tier category in 2024.
Solberg had been linked to a possible step up to Rally1 next year with seats available at M-Sport-Ford.
The 22-year-old's new deal is with Skoda Motorsport directly rather than with the Toksport Skoda team, which he drove for this year on his way to sixth in the WRC2 standings, in a campaign that included WRC2 wins in Sweden and Chile.
Solberg's Skoda Fabia RS Rally2 will once again be backed by long-time sponsor Monster Energy.
"Firstly, I want to say how happy I am to be working with Skoda again. I drove for the Skoda factory team in 2020, but then COVID came and that season was difficult. It's really nice to be back with them and working together again," said Solberg.
"I'm looking forward to doing some more testing and development through the season and, of course, working to further the brand off-event through our social media presence. I know we can make a really interesting and exciting partnership.
"On-event, really not much will change from last season. But with a plan to do some more development, I will have some more time in the car and that's going to help me feel more and more prepared for the rallies.
"To be working with one of the world's oldest carmakers is really an honour for me. It's something Elliott and I are super proud of and we will do everything we can to make sure Skoda's incredibly successful rally Skoda story continues."
Skoda has been the manufacturer to beat in WRC2 having guided drivers to titles in each of the last three seasons. New Hyundai signing Andreas Mikkelsen won titles in 2021 and 2023, while Emil Lindholm triumphed in 2022.
Head of Skoda Motorsport Michal Hrabanek, added: "We are very happy to continue our relationship with Oliver and Elliott. We saw great speed from them this season and I'm sure this will be the same in 2024.
"Winning WRC2 this year was another demonstration of the consistent performance of the Fabia RS Rally2 – having Oliver with us for next season puts us in a very strong position to continue this winning story."
Solberg and co-driver Elliott Edmondson will start their WRC2 campaign at the Monte Carlo curtain raiser from 25-28 January.
