If that is the case, it would bring a premature end to an outstanding career that yielded eight race victories, three pole positions and 32 podium finishes.
Ricciardo spent the majority of his career with Red Bull, and returned to the wider Red Bull family in 2023, first as a reserve driver before being given a full-time seat on the grid with sister team VCARB.
However, now, one senior F1 team member has extended an offer to Ricciardo, suggesting he could remain in F1.
Red Bull advisor Helmut Marko has been speaking about the 35-year-old's axing from the team, telling Motorsport-Total that the Milton Keynes-based outfit are 'interested' in continuing their association with the Australian, in an ambassador role.
"He is, especially in the United States, one of the most popular Formula 1 drivers," Marko said.
"On the other hand, if he is no longer an active driver, I don't know if he would then feel like doing those PR activities."
The publication later stated that Ricciardo had 'not yet accepted the offer' with the Australian also linked with a move to a different motorsport series, with a position within NASCAR largely being touted.
"I don't believe that," Marko said, shutting down the speculation.