Prior to the events of the past month, Ricciardo had been steadfast in his desire to see out his contract at McLaren, due to run until the end of 2023, but an agreement has been reached that will see him leave a year early.
In a statement, Ricciardo said: "It's been a privilege to be a part of the McLaren Racing family for the last two seasons but following several months of discussions with Zak & Andreas we have decided to terminate my contract with the team early and agree to mutually part ways at the end of this season.
"I'll be announcing my own future plans in due course but regardless of what this next chapter brings, I have no regrets and am proud of the effort and work I gave McLaren, especially the win in Monza, last season."
As to where Ricciardo will go next, his most likely option as is a straight swap with Piastri in a move to Alpine. There is also a possibility of seat becoming available at Haas should the American team decide to replace Mick Schumacher, while Alfa Romeo, Alpha Tauri and Williams are all still yet to confirm their driver line ups for 2023.