Leicester Lions will fulfil their ambition next year of racing in the Elite League.
The club's application to join the top tier was granted at the three-day AGM of the British Speedway Promoters' Association.
The Lions have operated in the Premier League, the middle tier of the sport, since returning to speedway in 2011.
But they will now become part of a 10-club structure in the Elite League, which will be made up of the current teams apart from Peterborough, who have announced their decision to withdraw.
Each team will meet twice – home and away – during the season, with an agreed cut-off date of September 22 for all fixtures to be completed to enable the play-offs to be arranged.
All 10 clubs will have two British riders at reserve for the season to enhance the development of home-grown talent, and Leicester will retain their normal Saturday race night.
Their alternative race day will be by arrangement to avoid potential problems for teams visiting the Jordan Road Surfacing Stadium on a Saturday, or to accommodate a possible live television screening.
"We are delighted that our application was accepted and we would like to thank the Elite League for welcoming Leicester into the fold," said Lions co-promoter Alan Jones.
"The decision to include two young British riders in each team is a step in the right direction.
"Having 18 meaningful official league fixtures at home is another plus that came out of the conference, a third of which will be true local derbies.
"Last season, we bemoaned the fact that there were too many weeks when there was no speedway, but that will all change now.
"It is an exciting new phase in the evolvement of the club, and work starts here to build a competitive team for 2014."
The move to have two young British riders in each team received support from world champion Tai Woffinden, who came through the three-tier structure before becoming the first British rider to win the title in 13 years.