The news comes in the wake of the controversy over Ocon's collision with team-mate Pierre Gasly at the Monaco Grand Prix that left team management upset.
Although it is understood that the decision is not based entirely on what happened in Monaco, the recent events did play a part in a decision that it would be best for them not to continue into 2025.
Speaking about the decision, Ocon said: "It's been a significant period of my life to be racing at this team in Formula 1.
"While I've been here for five years as a full-time racing driver, my professional career started at Enstone back when I was a teenager, so it will always be a special place for me.
"We have had some great moments together, some tough moments as well, and I am certainly grateful to everyone at the team for these memorable times.
"I will announce my plans very soon but, in the meantime, my full focus is on delivering on track for this team and having a successful remainder of the season."
Ocon will continue to drive for the team for the remainder of this season, including this weekend's Canadian Grand Prix. He last week hit out at the online abuse he had received for his part in the collision with Gasly which put him out of the Monte Carlo race.
Team principal Bruno Famin, who had talked of 'consequences' for the Monaco collision, believes that both driver and team would continue to deliver their best for the remainder of the campaign.
"We would like to firstly thank Esteban for his commitment to the team for the past five years," he said.
"During his time, we have celebrated some fantastic moments together, the best of which coming at the 2021 Hungarian Grand Prix with a memorable race win.
"We still have 16 races to complete in 2024 together with a clear objective: to continue to work tirelessly as a team to push for the best on-track results. We wish Esteban the very best for the next chapter of his driving career when that moment comes."
Alpine is likely to continue in 2025 with Gasly, whose contract is up for renewal at the end of this year.
Candidates to partner him include reserve Jack Doohan, who could run in first practice in Canada this weekend, and WEC driver Mick Schumacher. Sauber's Guanyu Zhou has also been linked with the seat.
Ocon's next step in F1 is not clear, but he has been most strongly linked with two options on the grid.
Haas is known to be interested in the Frenchman, as it considers its best option for an experienced team-mate to its likely promotion of rookie Oliver Bearman next season.
Ocon is also understood to be the Sauber/Audi team's preferred option if Carlos Sainz elects not to take up an offer that he has with the Swiss-based squad.
Sainz is currently evaluating whether to commit his long-term future to Audi or accept a drive that Williams has offered him to be team-mate to Alex Albon from next year.
Ocon has driven for the Alpine team since 2020, when it then competed until the Renault banner. He was able to deliver the French manufacturer a victory at the 2021 Hungarian Grand Prix, which was also his very first in F1.
Since then, he has delivered two further podium finishes, although this season has not delivered the success that both he and the squad had hoped for.
