The 1998 and 1999 F1 world champion will team up with fellow Finn Bottas in the returning Race of Champions which will be held in Sweden on 5-6 February.
Mexico City last hosted the Race of Champions in 2019, before the event was forced online in 2020 due to the COVID-19 pandemic. The 2022 edition will be held on a course of ice and snow in the Swedish resort of Pite Havsbad.
As well as taking part in the Nations Cup for Team Finland, both Hakkinen and Bottas will contest the individual Champion of Champions tournament.
“I’m very excited to be back racing again and to finally be able to participate in the Race Of Champions,” said Hakkinen.
“It will be very different from racing in Formula 1, but I love competition and it’s so spectacular driving on snow and ice.
“I’ll try to get some practice at my place in the north of Finland before the event.
“It’s an honour to represent Team Finland with Valtteri Bottas. We will do our best to win the title and hopefully there will be a lot of Finnish fans coming to support us.”
Bottas, who will have made the switch to Alfa Romeo by the time the event takes place, added: “We have become good friends with Mika, so I’m very happy to have him as my team-mate representing Finland in the ROC Nations Cup.
“But then of course we have to try to beat each other in the individual Race Of Champions. It will be entertaining for the fans, whoever wins it.”
Team Finland last won the ROC Nations Cup title in 2006 with ex-F1 driver Heikki Kovalainen and two-time World Rally champion Marcus Grönholm.