The agency, which already handles Santander's title sponsorship of the British Grand Prix, will create a series of activities to promote the association globally. The work will be rolled out at Grand Prix circuits worldwide, beginning at the ING Australian Grand Prix, which takes place on 16 March.
The agency won the work following a four-way pitch that kicked off in November and included incumbent agency Dialogue.
The sponsorship affords Vodafone, which was previously a sponsor of rival F1 team Ferrari, an on-car presence as well as branding on driver and pit-crew overalls, hospitality opportunities, merchandising and promotional rights.
Last year, Vodafone ran TV ads created by Bartle Bogle Hegarty featuring McLaren driver Lewis Hamilton.