The energy drink brand will also broadcast behind-the-scenes footage, interviews and commentary of the races through the site.
Red Bull hopes that its association with YouTube, which has more than 20m unique viewers a month, will help to raise the global profile and awareness of its high-risk flying event, which visits 10 major cities this year.
The Red Bull Air Race World Series attracted a worldwide audience of 400m last year, when the brand, which has announced plans to broaden its sports portfolio, promoted the London leg of its Air Race World Series through a 3-D cinema, TV and press ad campaign.
Red Bull is currently in discussions with digital agencies regarding its online marketing arrangements.