Trump said he would make the announcement at 12.30 am (3 pm local time) at the White House.
Withdrawing from the Paris agreement is one of Trump's major electoral promises.
"I will be announcing my decision on Paris Accord, Thursday at 3:00 P.M. The White House Rose Garden. MAKE AMERICA GREAT AGAIN!," the US president tweeted.
The much-awaited announcement will have a long-term impact on the fight against climate change, particularly in countries like India and China. The US is the world's largest polluter.
Disclaimer: No Business Standard Journalist was involved in creation of this content