The World Motor Sport council allowed the name change at a meeting Wednesday.
The team, based in Silverstone, England, was bought by Indian businessman Vijay Mallya and Dutch entrepreneur Michiel Mol earlier this month.
Mallya and Mol are the third owners in two years for the former Jordan team. The Midland group took over in 2005, before selling to Spyker in September 2006.
Adrian Sutil was the most successful driver for Spyker this season with one point for the team to finish last in the constructors' championship.
The other Spyker drivers - Sakon Yamamoto, Christian Albers and Markus Winkelhock - finished in the final three places in the standings. Albers was fired in July because of commercial difficulties. He was first replaced by Albers, then Yamamoto.