Formula One boss Bernie Ecclestone has exclusively told Eyewitness News that Cape Town is in line to host a Grand Prix within two years.

For over a decade, various reports have indicated a return to South Africa for the sport, but according to the F1 supremo, a deal is now weeks away from being signed.

Ecclestone was unable to give precise details, but the location of a proposed street circuit points toward the Waterfront and Green Point area.

The South African Grand Prix was last hosted at Kyalami in 1993. It was won by Frenchman Alain Prost.

According to Ecclestone, negotiations for its return are in the final stages.

"I'm hoping we can make a decision as soon as our lawyers have a good look at them... within the next couple of weeks," he said.

He said that it would be good to be back in South Africa as they were very happy when it was here in the past.