The presenter hosted his own BBC One talk show, Radio 2 slot and film reviews programme for the broadcaster and was one of its highest paid stars.
Ross was suspended for 12 weeks in 2008 after leaving a series of obscene messages on the answerphone of actor Andrew Sachs during a radio show presented by Russell Brand.
In a statement, Ross said that he had decided not to renegotiate his contract when it ends in July and that his decision was not "financially motivated".
Writing on his Twitter page this morning, Ross said: "Good morning. My day is turning out to be far more interesting then I had anticipated ! See you later - have a good one."
Earlier this week, tabloid reports suggested that Ross would lose his contract with the BBC, with speculation that his Friday night TV slot could be filled by Graham Norton, who recently signed a new £4 million deal with the broadcaster.