The news didn't come as a major surprise to the eight-time race winner, who admitted he expected his chances were up following last month's Singapore Grand Prix, where he at least secured the day's fastest lap on what was likely his final appearance in F1.
Ricciardo has received a number of tributes from across the world, with fans, pundits and fellow drivers eager to share their appreciation of the impact he's had on the sport.
The 35-year-old even hinted that a return to racing wasn't out of the question in an emotional social media post following the news that Liam Lawson had taken his spot, admitting he was excited about what his future holds.
Now, Supercars CEO Shane Howard has confirmed his intention to lure the former Red Bull racer to Australia's premier sports category, saying he would welcome him 'with open arms'.
Ricciardo has previously made no secret of his desire to get involved in other motorsport series, and speaking at the championship launch for this year's Bathurst 1000 in New South Wales, Howard said: "I think everyone would welcome Daniel with open arms, absolutely.