“This is a one-time opportunity to make an impact on the sport and work with a world-class team,” Hamilton said on Instagram.
He wants to serve as an “example of the value of diverse leadership throughout sport”.
The Broncos were recently acquired by an investment group centered around billionaire Rob Walton, the son of Walmart founder Sam Walton.
The billion-dollar deal is one of the most expensive in the history of the sport. The owners applaud the partnership with Hamilton.
The race driver is a “champion who knows how to lead a winning team, and a great champion of global equality,” they said in a statement.
A group of investors around Hamilton recently failed to acquire Chelsea football team.
The Mercedes pilot has shares in a charitable foundation and a restaurant chain.