The news didn't come as a major surprise to the eight-time race winner, who admitted he knew his was up following last month's Singapore Grand Prix, where he posted the day's fastest lap on what was likely his final appearance in F1.
'We'd welcome him with open arms'
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.
He 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.
"Would we like to see Daniel Ricciardo in a Supercar? 100 per cent.
"Just imagine if he could be in one of our cars and race in a new street race in Perth, that would be something special wouldn’t it?"
As reported by Supercars.com, he added: "It would be absolutely massive. He is such an incredible driver and such an incredible personality and people just absolutely love him.
"Imagine him racing at Bathurst, wow. That would be very cool indeed."