The Alfa Romeo driver posted a message on Instagram on Wednesday evening confirming he will step away from F1 at the end of 2021.

The 41-year-old, whose contract was due to expire at the end of the year, revealed he made the decision over the winter.

“This is it,” Raikkonen wrote. “This will be my last season in Formula 1.

“This is a decision I did during last winter. It was not an easy decision but after this season it is time for new things.

“Even though the season is still on, I want to thank my family, all my teams, everyone involved in my racing career and especially all of you great fans that have been rooting for me all this time.

“Formula 1 might come to an end for me but there is a lot more in life that I want to experience and enjoy. See you around after all of this!”

It will bring to an end a 20-year spell in F1 for Raikkonen, who remains the last driver to win a world championship for Ferrari, having beaten Lewis Hamilton to the 2007 title by a point.

Raikkonen made his debut with Sauber in 2001 and went on to race for McLaren and Ferrari before leaving the sport to pursue a career in rallying at the end of 2009.

The Finn returned to F1 with Lotus in 2012 and later rejoined Ferrari for a further five-year stint between 2014 and 2018.

After Ferrari replaced Raikkonen with Charles Leclerc in 2019, he returned to the Sauber-run Alfa Romeo outfit with which he has raced for over the past three seasons.

Raikkonen has claimed 21 victories and taken 18 pole positions throughout his F1 career that has seen him become the most experienced driver of all time, completing 341 starts to date.

His his most recent, and likely final, F1 victory came for Ferrari at the 2018 United States Grand Prix.

Valtteri Bottas is expected to replace Raikkonen at Alfa Romeo for the 2022 F1 season, with George Russell set to earn promotion to Mercedes to partner Hamilton.