Despite signing a new contract earlier this year, the Red Bull star suffered a dramatic drop-off in form last season, recording just 49 points over his last 18 races.
His slump was a major factor in Red Bull missing out on the constructors' championship, with both McLaren - who clinched their first title since 1998 - and Ferrari able to take full advantage.
Perez's recent struggles have convinced Red Bull to ditch the six-time grand prix winner ahead of the upcoming campaign as they look to get back on top.
Horner hails Lawson arrival
VCARB duo Yuki Tsunoda and Liam Lawson had been touted as potential options to line up alongside drivers' champion Max Verstappen in 2025, and it has now been confirmed that the latter will get his opportunity.
The Kiwi racer replaced Daniel Ricciardo earlier this season at Red Bull's sister team, and despite scoring points on just two occasions, clearly caught the eye of Christian Horner.
Writing on his Instagram page, Horner welcomed Lawson to the team and backed him to make a big impact as they embark on a new chapter together.
"I’m delighted to welcome @LiamLawson30 to the Team, completing our driver line-up alongside @MaxVerstappen1 for the 2025 season," Horner said.
"Liam’s performances over the course of his two stints with @VISACashAppRB have demonstrated that he’s not only capable of delivering strong results but that he’s also a real racer, not afraid to mix it with the best and come out on top.
"His arrival continues the Team’s long history of promoting from within the Red Bull Junior programme and he follows in the footsteps of championship and race-winning drivers such as Sebastian Vettel and of course, Max Verstappen."