Wehrlein was placed at the Hinwill-based by Mercedes and replaces Felipe Nasr who lost the backing of his Brazilian sponsor despite scoring Sauber's only championship points of the season when he finsihed ninth in last November's Brazilian GP.
Ericsson saluted his new team mate and the welcome addition his talent represents.
"I think it's great news for me and Sauber," Ericsson told the official F1 website.
"Pascal is a very fast and respected driver with a great CV. I think we can really push each other and the team forward, so I am looking forward to a great season.
"I honestly rate him highly. He's won the DTM championship and been part of the Mercedes family for a long time, so they seem to believe a lot in him.
"Of course, my aim is to beat him – what else – and I expect it to be a tough fight. But that's exactly what I need in order to perform at my best."
Ericsson also expressed optimism at Sauber's progress since the team was taken over last summer, a move which relieved the outfit of its short term financial woes.
"It definitely takes time, but I think it's clear that if you look at the second half of last season we really made some big progress," he commented.
"And the aim is, of course, to continue that way in 2017. We've had some great people decide to join the team in the last couple of months and that also makes a difference.
"So all in all it feels like we're moving in the right way. And with two young and hungry drivers in the cockpits we should be on a good run."