VCCP will create artwork for "the new generation of racing" to roll out around the opening race of the season in Beijing on 24 October.
Formula E, which launched last year, has ten race locations and has tasked VCCP with telling a unique story relating to each course.
VCCP was chosen without a pitch and replaces Dare, which was appointed to the global ad account last year.
Charles Davies, the global head of marketing at Formula E, said: "Formula E is a global entertainment motorsports brand that has attracted a huge young following in its first season.
"VCCP has beautifully captured our gaming-influenced sport experience."