Webber said at the British Grand Prix he's signed a multi-year contract and will compete in Porsche's new LMP1 sports prototype at the Le Mans 24 Hours and in the world endurance championship next year.
He has struggled this season, failing to win a grand prix and is fifth in the drivers' championship, 63 points behind Red Bull teammate Sebastian Vettel. The German is on course for a fourth consecutive title.
Webber first raised doubts about his future with Red Bull after Vettel ignored team orders and overtook him for victory at the Malaysian GP in March. But he insisted on his website that the controversy had nothing to do with his decision, adding that "I've had a personal plan. I've stuck with it. This is the next chapter."
Among the favorites would be Lotus driver Kimi Raikkonen, who is a good friend of Vettel's.
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"I am sure Mark thought long and hard before making what has no doubt been a very difficult decision," Red Bull principal Christian Horner said. "His achievements in Formula One are extensive and I am sure he will continue to push hard and build on that record until the end of the season.
"We support Mark's decision, he has been an excellent addition to the team since joining us in 2007 and we wish him all the best in the next stages of his career."