López was announced as a driver for US F1 on 25 January 2010. Former F1 driver Carlos Reutemann, a close friend of US F1 principal Peter Windsor and a leading politician in Argentina, helped put the funding package together for López. Complications in USF1's progress and uncertainty over whether USF1 would be able to stay in F1 for 2010 caused rumours to surface that López was in talks with rival team Campos, in order to secure his place in F1. This was confirmed by his manager in late February. On 2 March 2010, he was freed from his contract due to US F1 not being able to attempt to race. On 4 March, Karun Chandhok completed the 2010 grid by signing for Campos (later renamed as the Hispania Racing F1 Team), leaving López without a race drive.
In 2010, López remained driving for Honda in the Argentine TC 2000 championship, finishing 6th. In that year he was granted the Platinum Konex Award as the best racing driver of the last decade in Argentina. For 2011 he switched to Fiat. In 2012, he won the (super) TC2000 championship for a third time, with privateer team PSG16.