After two and a half seasons and at just 21-years-old, the Spaniard has lost his Toro Rosso race seat.
And the final spot on the 2012 grid, at the Spanish team HRT, has been secured by Narain Karthikeyan.
There has been speculation Toro Rosso sponsor Cepsa was unhappy with Red Bull’s decision to dump Alguersuari, but the Faenza based team announced that the Spanish oil company is staying on board for 2012.
It has also been rumoured Cepsa’s Abu Dhabi links could see Alguersuari become third driver at Mercedes this year.
Spanish newspaper Mundo Deportivo said an announcement about the driver’s plans is due imminently.
“You will not see me there this year but I am content with the super experience formula one has given me for my life,” Alguersuari wrote in Spanish and Castilian Spanish on his Twitter page.
“Thank you all very much for your support,” he added.