Wilson, who plays nurse Martin Platt, will leave the soap towards the end of the year. Although final details of his exit storyline are still being discussed, a spokeswoman said it was "likely" that the door will be left open for a possible return in the future.
The decision to write out the character was taken by producers and writers at a storyline conference earlier this week.
"There are times as the producer of a show such as Coronation Street that you have to make difficult decisions about the future of a character," said Corrie producer Tony Wood.
"Sean has been a valued member of cast for 20 years - during my time as producer he has been terrific and his performance during the recent Killer Katy storyline has been superb. However after a run of dramatic storylines for Martin we felt that there was nowhere left for the character to go at the moment. We are currently working on storyline ideas for his departure."
Wilson, 40, said that the decision had come "just at the right time."
"I've been considering my position for some time now as I feel I have so much to achieve," he said in a statement. "I'm very much looking forward to working on all kinds of other projects.. I feel my time in The Street has provided me with the perfect platform, and now I can concentrate on producing some exciting work elsewhere."
Platt first appeared on the Street in 1985, meeting the then Gail Tilsley when he was taken on to help work at Jim’s café.
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