The 65-year-old has been an integral part of the team's success since making the move from McLaren in 2006.
During that time, he has helped deliver 13 world titles over two dominant spells, designing championship-winning cars for the likes of Sebastian Vettel and Max Verstappen.
Since the surprise revelation, rumours have been swirling over where the Brit's future may lie, with Ferrari believed to be the frontrunners to secure his signature.
Meanwhile, Newey's manager and close friend Eddie Jordan previously refused to rule out the possibility that he may step back from the sport to spend more time with his family, admitting that all options remain open.
Where will Newey end up?
However, in a stunning twist to the ongoing saga, Newey has been reported to have entered talks with Aston Martin boss Lawrence Stroll after receiving a tour of the team's Silverstone facility.
The team's lead driver, Fernando Alonso, has spoken of his admiration for the design mastermind, and has already admitted he would be eager to team up next year.
Ahead of this weekend's Spanish Grand Prix, the 42-year-old remained tight-lipped when probed on the possibility of a deal being concluded.
"I read the rumours," he said. "But it's coming from the same source and the same website of one week ago [saying] he was in Ferrari and [there would be an] announcement at 12 o'clock before the Canada race."
When quizzed on what he would say to Newey to convince him to sign, he replied: "That stays between him and me."
"That keeps between him and me" 🤐
Fernando Alonso remained tight-lipped about the potential of Adrian Newey joining Aston Martin 🤫 pic.twitter.com/GPykYL2q5P