A statement on the group's website confirmed that Pajo would himself be replaced by Brad Truax, whose first gig with the band will be on March 3 in Hamburg.
"Dave has decided to step out of the spotlight for a spell, and will no longer be touring with Interpol," the announcement read. "We're all friends. It's just an Out-of-the-hotel, Into-the-home sorta thing.
"He's going to be missed to be sure. Aside from being an exceptional musician, Pajo is a wonderful person to be around. He's sharp as a tack and funny as all get-out."
Pajo added: "I'll be taking a break from touring to focus on family. There are no personal, artistic or health reasons - it's really as simple as that!
"I would like to thank Paul, Daniel, Sam, Brandon, everyone in the crew, and all of the Interpol fans for the remarkable support and patronage they have shown me during my time with them. I feel a tremendous amount of love and respect for everyone involved and will genuinely miss them."
He added: "I will continue to record and perform music, with bands as well as solo - I just won't be touring as much. I am truly grateful for the experience and look forward to enjoying Interpol in the future, as a fan and friend. Walk in light, walk in darkness."