The pair will be at the wheel of the new Civic WTCC cars run by Honda Racing Team JAS in 2013.
JAS Motorsport are currently developing the European Honda Civic five-door racing car which will use a new 1.6 litre 4 cylinder direct injection turbo-charged petrol engine. The team will enter one car for the three final events of the 2012 WTCC with Monteiro at the wheel, at Suzuka, Shanghai and Macau. 2009 World Touring Car champion Tarquini will also assist the works team on the car's development this year.
Tarquini has claimed 17 WTCC race victories and was crowned champion in 2009; he rejoins Honda and JAS Motorsport for which he raced from 1997 to 2001 in the British, German and European Touring Car Championships.
"I am very proud that Honda called me back to restart together again. I was theirs and the team's first choice from the beginning, and we have worked together planning all the steps to set the programme up," said Tarquini.
"Honda is one of the most important brands in automotive industry and in motor sport. They have achieved countless victories in all the categories. The team is very professional and I know all the people very well from my past years with them. There will be no need for adjustment periods. We start working with a lot of optimism and I believe we have all we need to be competitive straight away."
Monteiro, who has four WTCC victories to his name as well as a third-place finish in the 2005 US Grand Prix (albeit in a race when only six drivers started), was delighted to earn a spot in the team.
"I am obviously very excited for this amazing opportunity," he said. "These are tough times in motor sport and there are not many car manufacturers ready to launch factory programmes.
"To be chosen by Honda is a big boost for my ambitions, because I know they are not playing around but will do everything in the proper way.
"And I'm really happy to team up with Gabriele again. He helped me a lot when I joined SEAT and we get very well together. Especially at the beginning he will be more involved in developing the car, because of his vast experience. However, as I am the one who will drive the car in its first races, I will take over before Suzuka and will have a test of my own in Japan," Monteiro stated.
Hideo Sato, General Manager of Honda Motorsport Division in Japan, said: "We are delighted to have Gabriele back with us and excited to welcome Tiago into the Honda racing family for the first time.
"Both are former Formula One drivers and have also proven time and again that they belong in the absolute top echelon of world touring car drivers. We are convinced that both drivers will contribute to the success of the Honda Civic in the FIA WTCC."