The 18-year-old Kiwi finished on the podium in both races at the A1GP season opener at Zandvoort last weekend and is also the reigning Formula V6 Asia champion.
He and Yoong tested for the Meritus team during the two days of running at Shanghai this week, and the team confirmed both for the winter championship.
Bamber is eager to continue his relationship with Meritus, having raced for the team in Formula BMW Asia, the New Zealand-based Toyota Racing Series, and Formula V6 Asia.
"I've known the team since we won the BMW championship together in 2006 and I'm convinced they're one of the most professional teams in the paddock," he said.
"I suppose it will take me a while to get used to the GP2 car, but I progressed during testing and the potential is quite good. It will be a big step up from every other series I've driven, even A1GP."
Meritus team boss Peter Thompson added: "Our driver line-up is a great combination between Alex Yoong's experience and Earl Bamber's raw young speed. We have a good mix of talents and the first race will be the start of an exciting season. We hope to be fighting at the front."
The first event of the six-round GP2 Asia season supports the Chinese Grand Prix at Shanghai next weekend.
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