(GMM) Kevin Magnussen and McLaren-Honda on Friday confirmed reports in the Danish media that the two sides have split.
The Copenhagen Post declared that the young Dane, who made his debut for the Woking team in 2014 but served only as the reserve this year, is "done at McLaren".
It explained that Honda-powered McLaren "won't be renewing" Magnussen's contract.
It is believed the famous British team will instead promote new GP2 champion Stoffel Vandoorne, who in recent races has been standing in for Magnussen as McLaren reserve while the Dane recovers from a broken hand.
BT, a Danish tabloid, agreed: "Magnussen is finished with McLaren."
Magnussen announced on Twitter on Friday: "I want to say thank you to my friends at McLaren. There are a lot of great people there. Good luck guys.
"Shame it didn't work out but I'll never give up on the dream. One target. Watch this space," he added in the form of hashtags.
McLaren also confirmed the news, with team supremo Ron Dennis announcing in a statement that the team "will not stand in the way" as the "frustrated" driver tries to return to racing.
"He is a very talented racing driver, and he deserves to have a formula one career, as Jenson (Button) has publicly said," said Dennis, amid reports that Magnussen learned of the split recently via email on his birthday.
"We wish Kevin well, and we will do all we can to help him successfully embark on the next chapter of his racing career," Dennis added.