Lotus will use Red Bull gearboxes and hydraulic systems from the 2011 season, the new Malaysian-backed team announced on Tuesday morning.
It is expected the team, to be called Team Lotus next season, will also shortly announce an agreement to use Renault's customer engine in 2011.
The news will mean Lotus and Red Bull will use the same engine/gearbox/hydraulics package in formula one, which according to team boss Tony Fernandes is a "real statement of our intention".
A media statement said the deal is for 2011 "and beyond".
Lotus has expressed misgivings with its Xtrac gearbox and hydraulics during its debut season this year, and has already terminated its engine contract with Cosworth.
"This deal gives our design and aero teams a very exciting platform to work with," said technical boss Mike Gascoyne.
It is the first time Red Bull has supplied a gearbox to a customer team.
"The fact that Red Bull Technology has been chosen to be a supplier to another team despite its short history demonstrates how much we have achieved since our first season," said Red Bull team boss Christian Horner.