Ferrari is expected to announce soon that the Frenchman is heading to Maranello as the replacement for Mattia Binotto, who handed in his resignation last month.
Vasseur’s name was first mentioned in connection with the top Ferrari job even before Binotto’s departure was confirmed.
The 54-year-old joined Sauber in July 2017, shortly after the new shareholders - led by billionaire Finn Rausing - took over the then ailing organisation.
He has thus presided over the team for five and a half seasons, the last four under the name of main sponsor Alfa Romeo. In 2022 the team finished sixth in the world championship, its best result for a decade.
As CEO Vasseur also played a key role in the sale of the Sauber organisation to Audi, who will enter F1 under the new power unit rules in 2026.
The appeal of running Ferrari rather than leading Sauber through three interim seasons before the full Audi takeover proved irresistible to Vasseur.
In a statement the team paid tribute to its departing boss, making it clear that he will be missed.
The team said: “Frederic Vasseur leaves a team bolstered by new partners, a growing workforce and with a bright future as the works team for a manufacturer in the not-too-far distance.
“He leaves as a friend, a mentor, a boss that could extract the best out of his charges.
“And, as we enter a new chapter of the history of our team, we will miss the smiles and jokes that would accompany him as he did the rounds in our Hinwil HQ.
“Merci, Fred, et bonne chance. We’ll be cheering for you wherever you go next.”
Vasseur stressed that he has enjoyed his stint with the team, suggesting that it was good preparation for his future job.
“As I prepare to bring my adventure at Alfa Romeo to an end, I can look back fondly at these six years together,” he said.
“I owe a debt of gratitude to every single employee of the team, as they are the ones who got this team back on their feet and climbing the ladder of our sport.
“I am proud of the job we collectively have done as a team and a company, and even more so of the strong foundations we have laid for what’s to come next.
“But what I am the proudest of is the people that made this all possible, which in time have become friends.
“This team will always feel like home, and I’ll be rooting for it wherever I go. I have learnt so much during my stint as a CEO and team principal and I feel each day has equipped me for what is to come.
“I know Alfa Romeo will keep going from strength to strength and I’m looking forward to seeing them compete at the business end of the grid in the next few years.”
Sauber chairman Rausing acknowledged the contribution that Vasseur has made to the team.
“Frederic gave our team six years of inspiring leadership and hard work, helping rebuild our company and our team,” said the Swede.
“He was able to encourage every one of us into giving our best and the increasingly good results we have enjoyed are testament to the quality of his performance at the helm of the team.
“He was the first to believe in our project and he leaves a team in a much stronger, healthier position than when he arrived, with a bright future ahead of us, which is all that could have been asked of him.
“I am sure I echo everyone in the team when I wish Fred every success in his future endeavours.”
The Alfa/Sauber organisation has not yet announced who will replace Vasseur.
