Monaco, May 20 (IANS): Formula 1 driver Lewis Hamilton on Wednesday signed a new three-year contract with reigning constructors' champions Mercedes, a deal which is reportedly worth 27 million pounds.

The 30-year-old joined Mercedes in 2013 after a six-year stint with McLaren and clinched his second world title last year and will remain with the 'Silver Arrows' till 2018.

"Mercedes is my home and I couldn't be happier to be staying for another three years," said Hamilton, who currently leads teammate Nico Rosberg by 20 points in the current championship.

Since joining Mercedes, Hamilton, who won his first world title with McLaren in 2008, has won 15 races, 11 of those coming in 2014 as he beat Rosberg for the title. He has won three of the first five races this season.

"The Mercedes car I am driving right now is the best I have ever had in my career, it’s just so much fun to be out there every weekend, on the limit and fighting to win at every track," said the Briton.

Mercedes team boss Toto Wolff said: "Lewis enjoyed an historic World Championship season with Mercedes-Benz last year and it was a priority for this season to renew his contract for the next term. Lewis' sporting track record speaks for itself and he is a great personality for the company.

"Personally, I am looking forward to continuing to race with the strongest driver pairing in Formula 1 and to more historic achievements together."