Dutch team MP Motorsport will take Coloni's place in the GP2 Series field for 2013.
The new squad has already signed Daniel de Jong as its first driver.
MP started in Formula Ford in the mid-1990s, before establishing a strong presence in Formula Renault.
It added an Auto GP programme during 2011 and took second in this year's teams' standings in a collaborative effort with Manor (pictured above).
GP2 chief Bruno Michel welcomed MP to the grid.
"I am convinced that they will adapt quickly to the series and to the car," he said.
"It's always a big challenge for a new team to join our high-level field, but the winter break will give them the time they need to get ready and be competitive straight from the first pre-season test session next year."
De Jong raced for MP in FRenault and Auto GP. He also contested a partial GP2 season with Rapax this year and tested the Coloni car post-season.
MP boss Sander Dorsman hopes to sign another established GP2 driver alongside the 20-year-old Dutchman.
"There will be a lot of work to do over the winter in order to be ready for our first outing, but we're really looking forward to the challenge," he said.
"We're also very happy to have Daniel on board for our first season in GP2. We know him well and he showed good speed and consistency during the post-season tests in Barcelona and Jerez.
"We aim to sign another experienced GP2 driver to maximise the performance of the team going forward."