Former world champion Kimi Raikkonen will be leaving Formula One team Scuderia Ferrari at the end of the 2018 season.
Making the announcement, the official statement of Ferrari read,"Scuderia Ferrari announces that, at the end of the 2018 season, Kimi Raikkonen will step down from his current role."
The 38-year-old, who had joined Ferrari in 2007, spent a total of five years with the team as he switched squads in-between.
In their official statement, Ferrari acknowledged the contribution made by the driver to the team and wished him all the best for his future.
"During these years, Kimi's contribution to the Team, both as a driver and on account of his human qualities, has been fundamental. He played a decisive role in the team's growth and was, at the same time, always a great team player," the official statement of Ferrari read.
"As a World Champion for Scuderia Ferrari, he will always be part of the Team's history and family. We thank Kimi for all of this and wish him and his family a prosperous future," the statement added.
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Raikkonen had made a World Championship winning debut for Ferrari in 2007. He left the team at the end of 2009, spending 2010 and 2011 with National Association for Stock Car Auto Racing (NASCAR) competing in the World Rally Championship.
He then returned to Formula 1 with Lotus in 2012, where he spent two seasons. He rejoined Ferrari in 2014 and was associated with the team since then.