Magnussen has been something of a stalwart for the American-registered team having spent the majority of his F1 career with the operation.
He’ll end the year with almost 150 race starts with the squad, its most capped driver.
It’s not the first time he’s parted ways with Haas, having lost out in 2021 when it opted for the all rookie combination of Mick Schumacher and Nikita Mazepin.
A split with Mazepin following the invasion of Ukraine in 2022 saw an eleventh-hour call put into Magnussen, who’d switched focus to sports car racing in the United States.
“I’d like to extend my thanks to everyone at MoneyGram Haas F1 Team – I’m proud to have raced for such a great team of people these last few years,” said the Dane.
“In particular I’d like to thank Gene Haas for his commitment to me, notably in bringing me back once again in 2022 when I thought, at that time at least, my time in Formula 1 had ended.
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“I’ve enjoyed some great moments with this team – memories I’ll never forget.
“While I’m looking forward to the next chapter of my racing career, I remain fully focused on giving everything I’ve got for the rest of 2024 with MoneyGram Haas F1 Team.”
Magnussen’s departure comes ahead of the expected confirmation of Esteban Ocon at the squad.
Though it was known Ocon was out of contract, Alpine moved to confirm that it will not continue its relationship with him beyond the end of the current agreement.
Haas already has Oliver Bearman locked in for 2025, the Ferrari junior effectively stepping into the seat currently filled by Nico Hulkenberg, who will join Sauber (Audi) next year.
With few remaining seats, and having not been linked to either of them, news of Magnussen’s departure from Haas essentially signals the end of his F1 career.
The 31-year-old made his debut at the 2014 Australian Grand Prix, where he recorded his only career podium with second place (following Daniel Ricciardo’s disqualification).
He looks set to step away from F1 with 187 race starts, by far the most experienced and successful Dane to have competed in the championship.
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