Blaney was already scheduled to run the full Truck Series schedule for Brad Keselowski Racing. But the Penske organization said Wednesday they've added 15 Nationwide Series races to his schedule.
Blaney will also be entered in the Cup races at Kansas in May and Talladega in October in the No. 12 SKF Ford Fusion.
Team owner Roger Penske said Ryan is one of NASCAR's most promising young drivers.
"Ryan's win at Kentucky in the No. 22 car last year showed what he is capable of and we hope to experience many more moments in Victory Lane with him in the coming seasons," he said.
Blaney earned one win, two top-fives and eight top-10 finishes in 10 Nationwide starts the last two years. He won at Kentucky in September and was one of four drivers who competed in the No. 22 and helped Penske win the Nationwide Series owner's championship.
Blaney's first Nationwide Series start this season will be at Bristol on March 22. The remainder of his schedule will be announced later.
"I am excited to continue my racing career with Team Penske," said Blaney, a third generation racer and the son of Sprint Cup driver Dave Blaney. "I'm really looking forward to racing more in the Nationwide Series and it will be a dream come true for me to race in the Sprint Cup Series."