Kobayashi, a 27-year-old from Japan, has made 60 career F1 starts from 2009 to 2012. He scored his lone podium finish in 2012 for Sauber at Suzuka Circuitland.
"It's a great feeling to be back as an F1 race driver and I'm really pleased it's with Caterham F1 Team,” said Kobayashi. “We've been talking to Cyril (Abiteboul, Caterham team principal) and Tony (Fernandes, Caterham chairman) since last year about driving for the team for 2014 and beyond."
Ericsson, a 23-year-old from Sweden, will be making his F1 debut for Caterham. He has driven the four previous seasons in the GP2 Series. Ericsson will be the first driver from Sweden to race in Formula 1 since Stefan Johansson did so in 1991.
“This is a very proud day for me and everyone who has helped make my F1 dream come true,” said Ericsson. “I'll be making the step up to F1 with Caterham F1 Team in 2014 and I'm already excited about the season ahead, and the first race in Australia in particular."