Hill currently competes full-time with Richard Childress Racing in the NASCAR Xfinity Series, where he has two wins and remains in contention for the championship.
Previously, he won eight NASCAR Truck Series races between 2019 and 2021.
Hill, 28, also made his Cup Series debut earlier this year with RCR. Driving a third entry for the team, he finished 18th at Michigan International Speedway.
In 2023, he will run six Cup races with Beard Motorsports in the No. 62 Chevrolet Camaro, including the Daytona 500. He will compete at both Daytona races in fact, as well as both Talladega races, Michigan, and the Chicago street course race.
Beard Motorsports has been part-time at the Cup level since 2017, running a handful of races every year. Noah Gragson earned the team its best result in August of this year at Daytona, finishing 5th.