The 20-year-old Formula Renault graduate has already tested for the team during the winter.
"When, two months ago, I went to Durango for the first time I immediately felt at home," said Panciatici. "After last week's tests this persuasion became certainty.
"I am in the right team. I am very happy because, even considering how difficult the next season will be and how many difficult things I must learn, for sure Durango will deliver me all the necessary support."
Team boss Ivane Pinton added: "I kept an eye on Nelson during the last seasons, he was my first choice for the Durango 2009 GP2 campaign.
Panciatici joins Davide Valsecchi in the Durango line-up. His signing means that only the two Trident drives and one DPR seat remain to be filled.
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