"I am very excited to join a top team," the 24-year-old, who will work with fellow support drivers Marco Sorensen and Nicolas Prost, said.
"Obviously, the big change is that I won't be racing, but I will be at the races and working in meetings which will help me develop and progress as a driver," Pic added.
And he told France's RMC Sport that his new role will involve driving the actual F1 car.
"It is expected that I will take the wheel on Friday," said Pic, who was presented as the new Lotus driver on Thursday afternoon in Bahrain.
"It's important when you are a third driver that you actually drive, and I will," he insisted, without specifying his precise test and driving programme.
"I hope I can use it (the opportunity) to come back to a race seat in 2015," said Pic.