Late last week, German publication Auto Motor und Sport reported that Newey was set to leave the squad, having indicated to colleagues that he was no longer happy with the working environment there.
Following talks with the squad, it is understood that he has formally submitted his resignation and the focus will be on the terms of his departure.
An official statement from Red Bull Racing is expected to come shortly, potentially before the start of the Miami Grand Prix.
While the details of any separation are not known, it is anticipated that Newey will remain in his role for the time being before leaving Red Bull at the beginning of 2025 at the latest.
It is understood that Newey has communicated the reasons for his decision in an internal letter.
A decisive factor is said to have been his broken relationship with team boss Christian Horner in the wake of the power struggle that took place earlier in the year following the allegations made against him by a female employee.
This came after previous tensions, including an interview published at the end of last year where Horner said Newey's role had changed and that "the technical team under him, led by Pierre Wache, is doing a wonderful job so they are not dependent on Adrian."
Horner also said that football club Manchester United did not go under when star striker Eric Cantona left the team.
That interview did not go down well with Newey and was apparently perceived by him as Horner wanting to make himself important and minimise the contribution of others to the team's success.
Newey's wife Amanda even shared the interview on Twitter and commented: "What a load of hogwash."
It is not known what Newey will do after Red Bull, although there seem to be five clear options: Mercedes, Aston Martin, McLaren, Ferrari or stepping away from F1.
One argument against Mercedes is that Newey apparently believes it would take too long to set the necessary course to put the team back on the road to victory.
He is 65 and will not stay in his next job for 19 years, as was the case at Red Bull. What's more, he reportedly does not have a particularly high opinion of Toto Wolff.
Lawrence Stroll is waving his chequebook at Aston Martin and Dan Fallows, a long-time colleague of Newey's at Red Bull, is already there. However, Newey has earned enough money in his career. For him, it's about doing things that he enjoys.
It is rumoured that Newey is rather reserved towards Stroll Sr. and is therefore not considering the Canadian's financially attractive offer. Also, he does not like the idea that Stroll could drive up the market value of Aston Martin with Newey as an asset and then perhaps sell the team for a profit.
Newey has already worked for McLaren in the past, from 1997 to 2005, so this would no longer be a new challenge for him.
He gets on extremely well with CEO Zak Brown on a personal level. But Newey doubts that the team can mobilise the resources required for success in Formula 1.
That leaves Ferrari. It's no secret that they want him there, but the key question is whether or not he would want the upheaval in his life to move to Maranello and deal with the political environment inside the team.
