The 25-year-old has always been a dual citizen; he was born in Maidstone, Kent but grew up in Western Australia.
According to BBC Sports, Great Britain's sprint squad, coached by Sir Jason Kenny, a seven-time Olympic gold medalist, will now include Richardson.
The two-time Commonwealth Games gold medalist expressed his feelings over the ruling on Instagram.
"I decided on this path after giving serious consideration to my professional future," he added. The AusCycling Team and Australia hold a special place in my heart, and I will never forget them. However, I am driven to pursue my passion and challenge myself more with this relocation.
At the Paris Olympics, Richardson won a bronze medal for the team sprint, two silvers for the individual sprint and one for the keirin.
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