Mexican had signed a contract for the 2025 season, but will be replaced either by reported favourite Liam Lawson or Yuki Tsunoda.
Red Bull announced on Wednesday that Sergio Perez has departed the team after four seasons.
Perez joined Red Bull in 2021 and helped the team earn two constructors’ titles and completed a drivers’ standing one-two with four-time world champion teammate Max Verstappen in 2023.
“I would like to thank Checo (Perez) for all he has done for Oracle Red Bull Racing over the past four seasons,” Red Bull team principal Christian Horner said in a statement.
“From the moment he joined in 2021 he proved himself to be an extraordinary team player, helping us to two Constructors’ titles and to our first 1-2 finish in the drivers’ championship.
“While Checo will not race for the team next season, he will always be an extremely popular team member and a treasured part of our history. Thank you, Checo.”
Story of a difficult season
Perez won five Grands Prix in Red Bull colours, including a victory at the Monaco GP and a double in Azerbaijan.
However, his form dipped in the 2024 season leading to rumours about his future in the team.
He came eighth in the drivers’ standings as Red Bull finished third behind Ferrari and eventual champions, McLaren.
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“I’m incredibly grateful for the past four years with Oracle Red Bull Racing and for the opportunity to race with such an amazing team,” Perez said.
“Driving for Red Bull has been an unforgettable experience and I’ll always cherish the successes we achieved together.
“A big thank you to every person in the team… I wish you all the best for the future.
“It has also been an honour to race alongside Max as a teammate all these years and to share in our success.”
Second driver announcement later
Red Bull added in their statement that “announcements regarding the team’s full 2025 line-up will be made in due course”.
New Zealander Liam Lawson is considered the favourite to replace Perez, with this VCARB teammate, Yuki Tsunoda, said to be an outside option.
Elsewhere, Red Bull junior and 2024 F2 season runner-up, Isack Hadjar, appears most likely to occupy the second seat at VCARB after losing out marginally to Sauber-bound champion, Gabriel Bortoleto.
Additional reporting by Charl Bosch
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