The 23-year-old German is expected to be replaced by older compatriot Nico Hulkenberg alongside Danish driver Kevin Magnussen.

Schumacher made his debut with Haas last season after winning the 2020 Formula 2 title but was out of contract after this weekend’s final race at Abu Dhabi’s Yas Marina.

A member of Ferrari’s young driver academy, Schumacher was involved in costly crashes early in the season but has also scored his first F1 points this year with a best finish of sixth.

He is 16th in the overall standings with 12 points.

Haas team boss Guenther Steiner thanked Schumacher and wished him well.

“Mick’s pedigree in the junior categories was well known and he has continued to grow and develop as a driver in his time with the Haas F1 team,” Steiner said in a statement.

“While choosing to go in separate directions for the future, the entire team wishes Mick well for the next steps in his career path and beyond.”

Ferrari-powered Haas are eighth of the 10 teams in the overall standings.