The 38-year-old Finn, who has been behind Sebastian Vettel in the Ferrari pecking order in recent seasons, is the last person to win the world title for Ferrari, back in 2007.
In a statement on its official website, Ferrari said: "During these years, Kimi's contribution to the team, both as a driver and on account of his human qualities, has been fundamental. He played a decisive role in the team's growth and was, at the same time, always a great team player.
"As a world champion for Scuderia Ferrari, he will always be part of the team's history and family. We thank Kimi for all of this and wish him and his family a prosperous future."
More to follow.
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