"We're fortunate that we were able to tap into Matt's potential and bring him on board many years ago," Roush said, "and I'm proud that together we were able to combine the tools and the resources of Roush Fenway with his talent and determination to forge a partnership that yielded a championship at the Cup level and all of his 22 Cup victories, including two Daytona 500 wins.

"The No. 17 is positioned extremely well this season, and I'm committed to providing the team the best resources to continue their run for the 2012 championship. I have no doubt that Matt will do his part."

Roush Fenway general manager Robbie Reiser guided Kenseth to Roush Fenway's first Sprint Cup title in 2003, working as crew chief.

"Matt and I broke into this sport together, learned the ropes and were able to bring home a championship," Reiser said. "Over the 20 years we have worked with each other, Matt has been a fierce competitor and become a close friend, not only for me, but as a mentor to young drivers like Ricky. I wish Matt nothing but the best for the next phase of his career, and know that we'll remain close."

It's been speculated, but not confirmed that Kenseth will drive for Joe Gibbs Racing. In 2005, Gibbs expanded to three teams. On Sunday, JGR president Joe Gibbs told FOXSports.com that a fourth team was a distinct possibility.

Stenhouse, 24, has five Nationwide Series wins. He has made two Sprint Cup starts, with his best result coming in last year in the Coca-Cola 600 driving for the Wood Brothers. Stenhouse qualified ninth and finished 11th in his Cup debut, substituting for Trevor Bayne.