Since the announcement was made shortly before the start of this season, speculation over who will take over from the 39-year-old has continued to dominate the headlines.
Mercedes boss Toto Wolff has made no secret of his desire to bring in the best driver available, with three-time world champion Max Verstappen touted as a potential option despite still being under contract at Red Bull.
The Dutchman has reportedly been considering his future options, but has gone on record to say he is planning on staying at the constructors' championship holders for at least another season.
Kimi Antonelli set to take Lewis Hamilton seat
Another name linked with the vacant seat is young prospect Andrea Kimi Antonelli, who has been tipped to reach the top in F1.
The 17-year-old Italian is currently racing in F2, but his performances have already caught the eye of Wolff, who has been impressed with his rapid progress so far.
It is now believed that that Wolff has given up on trying to sign Verstappen, opening the door for Antonelli to make the step up from the sport's second tier.
Dutch media outlet De Telegraaf reported: “The main character in this whole story, Verstappen himself, has always been crystal clear: his intention was and is to stay at Red Bull - at least in 2025.
"Wolff knows that too and that is what will happen.
"Apart from the fact that Verstappen is less easy to pry away from Red Bull, now that a much-discussed side letter to the contract of top advisor Helmut Marko has been adjusted.
"Previously, a provision was included that Verstappen could get out of his contract, which runs until 2028, if Marko were to leave the Red Bull ship - that has now disappeared.”