The car will boast the trademark red and chrome Ralliart livery with SVA UK managing director and former BTCC regular James Kaye behind the wheel.
The car is being built by ADR Motorsport, the same team responsible for two Mitsubishi's currently competing in the British Rally Championship.
“Mitsubishi UK has not been involved with circuit racing for many years, so this new initiative is a great opportunity for us. Subject to the level of interest from competitors, we are also hoping to announce a one-make race-series for the Evolution X soon.”
The team expect the two-litre turbocharged engine to produce around 300kW through the Evo's capable all-wheel drive system.
What is not clear though is whether the team will opt for the manual transmission or SST gearbox.
The racing Evo will make its competitive debut at the Britcar 24-hour race at Silverstone with two other drivers who are yet to be named.