The 20-year-old Briton had been linked to a drive with P1 Motorsport in the series this year, but P1 will instead support his entry with Eurotek Motorsport.
Oakes will drive a 2008-spec Dallara Mercedes, which he shook down for the first time at Rockingham last week.
He has conservative expectations for his and the team's F3 debut, but believes they will be challenging at the front by mid-season.
"We've had a tough time getting everything in place so it's a credit to the guys that we're ready in time for the second round," he told autosport.com.
"The shakedown went well but we're really jumping in at the deep end. This weekend will be about seeing where we are as a team and also for myself because I hadn't driven a racing car since October.
"I'm confident that by the half way point of the season we'll be competitive and running at the sharp end. We have a great group of guys and I'm looking forward to working with my engineer, John Gentry, who has a wealth of experience throughout motorsport."
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