Autosport exclusively revealed that Reynolds was firmly in the frame to depart Grove Racing and join Team 18 last month.
That has now been confirmed, Reynolds to join Mark Winterbottom in what will be a highly-experienced line-up at the GM squad next season.
The move comes after Reynolds was only offered a single-year extension at Grove Racing, and opted for the security of what is believed to be a multi-year deal.
He will also be reunited with team manager Bruin Beasley and crew chief Dennis Huisjer, who he worked with at Erebus Motorsport.
“This is just a really exciting time for me," said Reynolds. “I’ve worked with Bruin and Dennis when we won Bathurst [in 2017]. We get along really well and I respect everything they do.
“On top of that I get to race alongside Frosty and people forget that the last season we raced together, Mark and I finished first and third in the championship back in 2015.
“I can’t thank [team owner] Charlie [Schwerkolt] enough. I’ve always admired Charlie and how he conducts himself and his team.
“Funnily enough I’ve always had this feeling that maybe one day I’d race for Charlie, I cannot wait to join him and his team.”
Schwerkolt said Reynolds will be a good fit for the team.
“David's track record, both in terms of his accomplishments and his extensive knowledge of the sport is impressive, and he will be a great fit for the culture we have built at Team 18," he said.
“His addition to the team reflects our pursuit of on-track success and our commitment to secure high-class talent to our organisation.
“We look forward to a strong partnership and a bright future together."
Whether Pye will land a full-time seat next year is yet to be seen, with both Blanchard Racing Team and Matt Stone Racing in the market for a proven, experienced driver.
James Courtney, who will leave Tickford Racing at the end of 2023, is thought to be high on the lists at both teams, however the likes of Pye and Nick Percat are thought to be in the frame as well.
Grove Racing, meanwhile, has signed Richie Stanaway to partner Matt Payne for 2024.
