The Brit has been with the reigning constructors' champions since 2006, and has since designed championship-winning cars for the likes of Max Verstappen and Sebastian Vettel.
His decision to depart the Milton Keynes-based outfit will likely have a significant impact on the team, given that he is free to sign with one of their major rivals.
Adrian Newey reportedly met with Aston Martin boss Lawrence StrollReports emerged recently that Newey had agreed a multi-million pound Ferrari deal
Where does Newey's future lie?
Following the announcement, Ferrari have been consistently linked with the 65-year-old, with recent reports indicating a contract had already been signed with the Italian giants.
However, Aston Martin have emerged as a new contender to make a move for the man widely considered to be the greatest designer in the sport's history.
Newey reportedly met with Aston Martin boss Lawrence Stroll on a recent visit to the team's Silverstone base, where the possibility of a deal was believed to have been discussed.
A switch to Aston Martin would see Newey team up with Fernando Alonso
If that were to happen, Newey would link up with former world champion Fernando Alonso, something the Spaniard has admitted would be an enticing prospect.
As yet though, nothing has been confirmed, with Newey's close friend and manager Eddie Jordan previously hinting that he may opt to take some time away from the sport altogether.
Despite ongoing speculation surrounding his future, Newey appeared to be in a relaxed mood as he was filmed driving his Aston Martin Valkyrie sports car - which was manufactured in collaboration with Reb Bull - in the UK earlier this week.
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