Lewis Hamilton can clinch his fifth Formula One world championship at Sunday's US Grand Prix.
Hamilton's flying lap of one minute 22.188 seconds set a new record at Albert Park but was only 0.268 seconds in front of German Vettel, offering the tantalising prospect of a competitive championship after three years of domination by the Silver Arrows.
A decade on from their last driver's title, courtesy of Kimi Raikkonen in 2007, Ferrari emerged from eight days of testing in Spain with the fastest lap times coupled with impressive reliability.
British media reports have suggested the new deal could be worth up to 40 million pounds ($52 million) a year and is likely to make the four-time F1 champion the sport's top earner.
Nico Rosberg beat title favourite Lewis Hamilton to pole position for the decisive Abu Dhabi Formula One Grand Prix on Saturday as the dominant Mercedes team mates locked out the front row in qualifying.
Vettel, who won from pole position last year in Canada to revive Ferrari's title hopes, will be hoping for the same on Sunday with world championship leader Hamilton, chasing a record equalling seventh win in Montreal, starting alongside him.
The Mercedes driver is 14 points clear of his rival and fellow four-times world champion after winning in France on Sunday and heads to Spielberg confident of continuing the momentum.
Dutch teenager Max Verstappen became Formula One's youngest race winner on Sunday in a sensational Spanish Grand Prix that saw dominant Mercedes drivers Lewis Hamilton and Nico Rosberg collide on the opening lap.
Formula One leader Nico Rosberg swept to pole position at the Belgian Grand Prix on Saturday with Mercedes team mate and title rival Lewis Hamilton alongside on the front row after a wet qualifying session.
The win also set a record, one that Hamilton had previously shared with seven times champion Michael Schumacher, of 41 wins from pole position.
The German was joined on the front row of the grid by reigning world champion and closest rival Lewis Hamilton, in a Mercedes.
Lewis Hamilton stormed to pole position at the Brazilian Grand Prix on Saturday with Mercedes team mate and title rival Nico Rosberg joining the triple Formula One world champion on the front row. On a damp and overcast Sao Paulo afternoon, it was the 60th pole of the Briton's career, eight short of Michael Schumacher's record, and his first in Brazil since 2012 when he was at McLaren. With his title on the line, it was also one of Hamilton's most important in a roller-coaster season marked by mechanical setbacks.
Fresh from his 50th Formula One win, triple world champion Lewis Hamilton remains convinced anything is possible in the title race even if he could lose his crown as early as Sunday.
Nico Rosberg's 30th pole position of his career was the German's third in a row at Suzuka as Mercedes, who can wrap up a third successive constructors' title on Sunday, claimed first place on the grid for the 52nd time in the last 54 races.
Paul di Resta suffered his third retirement in a row and Adrian Sutil sneaked into the top-10 in the last lap as Sahara Force India added one point to their tally from the exciting Singapore Grand Prix, where fortunes swung like a pendulum for the Indian F1 team.
Lewis Hamilton won his home British Grand Prix on Sunday and slashed Mercedes team mate Nico Rosberg's Formula One lead to four points after the German retired for the first time this season.
Lewis Hamilton scorched to his third pole position in a row for Mercedes in searing track temperatures at the Hungarian Grand Prix on Saturday.
Lewis Hamilton joined the elite group of triple Formula One world champions on Sunday after winning a thrilling U.S. Grand Prix that kept the crowd on tenterhooks right to the very end.
Lewis Hamilton heads into Sunday's Hungarian Grand Prix fired up to complete a hat-trick of victories and seize the lead in the Formula One title race for the first time this season.
Lewis Hamilton won his home British Grand Prix for the third year in a row on Sunday with Mercedes team mate and title rival Nico Rosberg finishing second but under a stewards' investigation.
Germany's Nico Rosberg celebrated a surprise hat-trick of Monaco Grand Prix victories on Sunday after Mercedes blew championship-leading team mate Lewis Hamilton's chances with a needless pitstop.
Formula One world champion Lewis Hamilton took the first Monaco Grand Prix pole position of his career on Saturday to deny Mercedes team mate Nico Rosberg a hat-trick.
Formula One has a reputation for being exclusive and inaccessible compared to series like the world endurance championship, where fans have much more access to the paddock and drivers during race weekends. But the sport is set for a revamp.
Nico Rosberg cruised to victory in the first Formula One race held in Azerbaijan on Sunday and increased his championship lead over Mercedes team mate Lewis Hamilton to 24 points. While the German enjoyed an uneventful drive in the late afternoon sunshine, triple world champion Hamilton worked up a head of steam as he wrestled with his car's settings without the team being able to help.
Nico Rosberg beat Mercedes team mate Lewis Hamilton for the first time this season and cut the Formula One world champion's lead to 20 points with a commanding victory in the Spanish Grand Prix on Sunday.
Formula One world champion Lewis Hamilton won the Bahrain Grand Prix for the second year in a row on Sunday with Ferrari's Kimi Raikkonen back on the podium to deny Mercedes another one-two finish under the floodlights.
Formula One world champion Sebastian Vettel limbered up for a Japanese Grand Prix that could bring him a fourth successive title on Sunday with the fastest time in Friday practice.
Lewis Hamilton pulverised the track record to claim pole position on Saturday ahead of a US Grand Prix that could secure the Mercedes driver's fourth Formula One world championship.
Formula One leader Lewis Hamilton smashed the Suzuka track record to seize a dominant Japanese Grand Prix pole position on Saturday with Ferrari rival Sebastian Vettel lining up alongside on the front row.
For Mercedes to be denied in Brazil, Ferrari will have to score 13 points more than Mercedes -- a feat they have managed only twice in 19 races so far this year.
Max Verstappen gave himself a perfect 20th birthday present by winning the last Malaysian Grand Prix on Sunday, while Lewis Hamilton stretched his Formula One world championship lead to 34 points.
Germany's Nico Rosberg chalked up his 10th pole position of the season on Saturday after beating team mate Lewis Hamilton in a Mercedes sweep of the front row in Brazilian Grand Prix qualifying.
Lewis Hamilton celebrated his 50th Formula One victory on Sunday with a pole-to-flag U.S. Grand Prix drive that kept his title hopes alive and trimmed Mercedes team mate Nico Rosberg's lead to 26 points with three races remaining. Rosberg, who had been chasing his 10th triumph of the season, finished second on a sunny Texan afternoon with a big crowd but little drama -- even if Hamilton spent much of it worrying about reliability. The straightforward victory was Hamilton's fourth in Texas in five seasons and ended a barren stretch for the triple world champion dating back to his last win in Germany in July.
The triple champion, who started the race from a record 69th career pole position, led Finnish team mate Valtteri Bottas to a runaway one-two finish in front of the massed ranks of red-shirted Ferrari fans.
Triple world champion Lewis Hamilton took a record 69th Formula One pole position with a wet weather masterclass at the Italian Grand Prix.
Nico Rosberg stormed to his sixth pole position in a row and denied Mercedes team mate Lewis Hamilton a landmark 50th in Formula One's season-ending Abu Dhabi Grand Prix on Saturday.
Nico Rosberg said it was 'business as usual' after beating Mercedes team mate Lewis Hamilton to pole position for the fourth race in a row on Saturday in the first Formula One qualifying held in Mexico since 1992
Lewis Hamilton won his home British Grand Prix for the fourth year in a row on Sunday while Ferrari's Sebastian Vettel suffered a penultimate lap puncture that slashed his championship lead to a single point.
Nico Rosberg seized pole position for the Russian Formula One Grand Prix on Saturday with world champion Lewis Hamilton joining his team mate on the front row in a perfect qualifying for Mercedes.
Lewis Hamilton enjoyed an utterly dominant Italian Grand Prix victory on Sunday to take a 53-point lead in the Formula One championship after Mercedes team mate and closest rival Nico Rosberg retired with his engine in flames.