Gray is delighted to be moving up to FIA F3 and is aiming to learn as much as possible in his rookie year.
Speaking about the season ahead, the British driver said, “I’m super excited to be making the step up to F3 next season.
Hopefully this will be the first year of a two-year programme in F3, the aim this season will be to learn as much as possible about the car, circuits and tyres, all of which will be new to me.
“I’m indebted to my sponsors and for the belief that Williams and Carlin have shown in me.
To be able to embark on that with the team at Carlin is a dream come true and I can’t wait to get going.”
The 16-year-old has joined American driver Hunter Yeany at the Surrey-based squad as the team looked to build on their 7th place finish in the Teams’ Championship last year.
Carlin added: “Ollie was a complete pleasure to have in the team last season and we really believe in his potential.
“It’s a big step up to FIA F3 which is an incredibly competitive championship so it will be a steep learning curve.
“Making steady but recognisable progress with every event will be the aim, and Ollie has the attitude and talent to be able to do that.”
The 10-round FIA F3 season begins on the 3-5 of March in Bahrain and includes a first-ever trip to Albert Park in Australia.
Formula 3 will also make a return to the famous streets of Monaco as part of Formula 1’s support bill for the first time since 2005.