Munoz will join Marco Andretti, James Hinchcliffe and Ryan Hunter-Reay on the four-car team. Andretti said sponsorship will be announced for the Colombian at a later date.
Munoz made his IndyCar debut in the Indianapolis 500. He started from the front row and finished second.
He was a replacement driver for injured Ryan Briscoe at Toronto in July and finished fourth. He also filled in last minute for E.J. Viso in the season finale at Fontana, where he crashed and finished 23rd.
Munoz won four Indy Lights races in 2013 and five poles driving for Andretti.