He will leave the team during the first quarter of 2025, with a move to Ferrari or Aston Martin on the cards.
Newey has reportedly been unsettled by power struggles within Red Bull, as a result of controversies involving team principal Christian Horner.
Are things about to get worse at Red Bull?
Alongside Newey, Red Bull could also lose more employees according to a rival boss.
During the Friday press conference at the Miami Grand Prix, McLaren CEO, Zak Brown, revealed his team had been sent CVs by Red Bull staff members.
He also discussed Newey’s departure and what it means for the Austrian team.
“I think given everything that's gone on since the start of the year and knowing Adrian pretty well, and he's a very high-integrity individual, I'm not surprised he's moving on,” Brown said.
“The stuff that's going on there is a bit destabilising. It's probably the first domino to fall. My guess is not the last based on the resumes that are flying around.”
“We've seen an increase in CVs coming our way from the team. And I think Adrian is the most successful designer of all time.
“So in addition to the technical that he brings to the racing team, people want to work for people like Adrian Newey and work alongside him.
“I think they will be missing what he brings to the team from a pure technical point of view. And then I think the leadership and the excitement people get from working with him will be missed.”