Konig, 19, made his WSBK debut in last year's Mandalika season finale aboard a Pedercini Kawasaki ZX-10RR, making the step up directly from the entry-level World Supersport 300 class.
The weekend did not go smoothly for Konig, who crashed out of the opening race and then was unable to take part in the second race due to injury.
In 2022, Konig will contest a full season for the first time aboard Orelac's solo ZX-10RR, replacing Isaac Vinales. He will be the first full-time Czech WSBK racer since Ondrej Jezek in 2018.
Orelac team boss Jose Calero said: "In recent years, our team has become a platform for young international talents and Oliver is one of them.
"We have absolute confidence in his quality, his dedication and his determination and we are going to work to ensure that he gains experience and his training becomes more solid in every race. He is going to be the youngest driver on the grid. He has to open his eyes and listen. He also has to enjoy himself."
Konig, who turns 20 in March, thanked the team for "for giving me an opportunity that I will never forget, placing me among the best in the world, where I am going to learn a lot".
He added: "Jose Calero and Orelac Racing are betting heavily on young people and offering them a golden opportunity and for this they deserve our recognition. From now on, I will work hard to achieve my goals."
Orelac's announcement leaves only fellow satellite squad Pedercini to confirm its plans for the 2022 season among the Kawasaki teams.
Earlier this month it emerged that 2013 WSBK champion Tom Sykes could end up joining the already-confirmed Loris Cresson at Pedercini.
