Barnard's F2 graduation comes after the 19-year-old finished 10th in his maiden season of Formula 3 last term with PHM partner team Jenzer Motorsport.
He finished the season strongly with a feature race win at the Spa penultimate round, then took third in the Monza finale.
Barnard joins fellow rookie Joshua Duerksen at the team which ran Roy Nissany, Brad Benavides and Josh Mason during its first season of F2 in 2023 after taking over the Charouz squad's entry.
“I am delighted to announce I will be competing in FIA Formula 2 with PHM AIX Racing,” said Barnard.
“It is another step up the ladder towards my dream and of course I wish to be more prepared, but I will do everything in my power and more to perform.”
Barnard has risen through the junior ranks with PHM and finished runner-up in the 2023 Formula Regional Middle East Championship, a position he currently holds in the 2024 mini-series as well.
Barnard will get his first taste of the all-new Dallara F2 car in the pre-season Bahrain test on 11-13 February.
“On behalf of the whole team I can say that we are more than pleased and happy to have Taylor onboard,” said sporting director Roland Rehfeld.
Source: Autosport