He will join his former manager and fellow former McLaren driver Martin Brundle, as the often-criticised Jonathan Legard has been dropped.
“Life moves on,” Legard said on Twitter on Tuesday morning. “Ask Nick Heidfeld or Narain Karthikeyan. You never know what’s next.
“To the critical and the complimentary, thanks for the company,” he added.
The Telegraph’s Tom Cary said Brundle will continue his famous grid walk even though he is now the lead commentator, while Coulthard will continue to appear alongside fellow pundit Eddie Jordan “where possible”.
Also early on Tuesday, it emerged that Sir Richard Branson might have to pull out of his appearance as an AirAsia stewardess on a London to Kuala Lumpur flight on 21 February.
The billionaire lost a bet with fellow airline owner Tony Fernandes because Branson’s Virgin Racing finished behind Lotus in 2010.
“(There) may be a delay as Richard injured himself skiing,” said Lotus team boss Fernandes. “Will call him today. So that’s why no announcement yet.” (GMM)