With entries from both the FIA Masters Historic Formula One Championship in Europe and the Masters USA series, the races will include a wide variety of famous machinery from the 3-litre era of F1 competition.
They follow the success of similar races at the United States and Mexican Grands Prix in 2017, and earlier races during the Canadian and Singapore weekends.
“The fact that we have been asked to organise a support race at the British Grand Prix certainly reflects the quality of the show we put on at Montreal, Austin and Mexico City last year,” said Ron Maydon, founder of organisers Masters Historic Racing.
“I’m sure that we will evoke many wonderful memories with the spectators that were also present at Silverstone and Brands (Hatch) in the seventies and eighties as well as fascinate the younger part of the crowd.”
Stuart Pringle, Managing Director of Silverstone, added: “We regularly ask our fans for feedback on how we can further improve their British Grand Prix experience and requests for more track action and the opportunity to see classic Formula 1 cars are always high up on the list.
“I believe that the inclusion of the two Masters Historic Formula One races to the timetable will tick both those boxes and will not only be a fantastic crowd-pleaser but also a great addition to the weekend in a year which sees Silverstone celebrate its 70th anniversary.”
It will be the first time that Masters Historic Racing has organised such a support race at a European round of the world championship.
For tickets to the 2018 Formula 1 Rolex British Grand Prix, click here.