The deal, brokered by Fuel@Vivaki, means that there will be an ad just before the race begins.
Channel 4 will not be showing any ads during the ten races it will be airing so this is the best position for an advertiser. However there are other opportunities for advertising which will be announced after an auction closes tonight.
Mercedes-Benz Cars UK is going to use the spot to promote a number of its models, including the new E-Class Saloon.
Last week Channel 4 launched the full ad for the coverage, and announced that it will be sponsored by Kayak.
The broadcaster’s coverage, which includes highlights, begins this weekend.
Jonathan Allan, the sales director at Channel 4, said: "After significant multi-client interest in this unique commercial window before the wheels start turning on terrestrial TV, we’re thrilled to partner with Mercedes-Benz.
"They have a long and deep history with F1, and the brand also aligns with our track record in high quality, innovative live sports coverage, which will appeal to established F1 fans and also bring in new audiences."