Hendrick Motorsports announced on Thursday that Chase Elliot will replace the retiring Jeff Gordon in the number 24 Hendrick Motorsports Chevrolet in the NASCAR Sprint Cup Series in 2016.

Gordon announced last week that he was stepping down from full-time racing after this year. Elliot currently drives for Dale Earnhardt Jr.'s JR Motorsports in the NASCAR Xfinity Series and is the defending Xfinity series champion. He is one of NASCAR rising stars. No sponsor for the Cup ride was announced, but Elliot will have Gordon’s current crew chief Alan Gustafson as his crew chief. This year Elliot will run five Cup races to help get ready for next year. The five Cup races that he’ll compete in are Martinsville in March, Richmond, the Coca-Cola 600 at Charlotte in May, the Brickyard 400 at Indianapolis, and Darlington on Labor Day weekend, according to the Associated Press. He will drive the number 25 car with sponsorship from his Xfinity sponsor NAPA. Gordon believes that Elliot is the best choice for his replacement.

"So many people have been behind me, and the first thing I want to do is thank them," Elliot said in a release. "My parents especially have believed in me every step of the way, and I know this wouldn't be possible without all the sacrifices they've made to focus on my racing career. This is such a big week for our family. I'm also extremely grateful to Mr. Hendrick and my teammates at both Hendrick Motorsports and JR Motorsports for believing in me. NAPA has been a huge supporter, and I'm honored to represent them on and off the track. Of course the fans have been amazing to me, and I'm so appreciative of that. I know how rare this opportunity is and will work as hard as I can to make everyone proud."

Rick Hendrick, owner of Hendrick Motorsports, signed Elliot to his development program in 2011. Last year was his first full season in one of NASCAR’s national series. As a rookie in the NASCAR Xfinity Series last year he had three wins, 16 top-fives, 26 top-tens and won two poles and made history by becoming the youngest champion in any of NASCAR’s three national series, according to NASCAR.com. Elliot also won Rookie of the Year in the Xfinity Series, becoming the first driver in NASCAR history to win a championship and Rookie of the Year in the same season.

Elliot’s announcement comes just one day before his father Bill Elliot gets inducted into the NASCAR Hall of Fame. Bill Elliot, known as “Awesome Bill from Dawsonville,” won 44 Cup races, including the 1985 Daytona 500 and won the championship in 1988.