The company explained in a press release that it has made the decision in the middle of the season in order to give its drivers and its team's other employees adequate time to find work elsewhere.
A precise reason for why Chevrolet decided to put an end to its successful program was not given.
"Following a strategic review of our motorsport and marketing programs we have decided to leave the FIA World Touring Car Championship at the end of the 2012 season to focus our Chevrolet brand activities in other areas," said Susan Docherty, the President and Managing Director of Chevrolet's European division, in a statement.
The bowtie brand started competing in the World Touring Car Championship in 2005 with a heavily-modified Lacetti and switched to an equally modified Cruze in 2009. Over the last eight years Chevrolet has won 59 races and two Drivers' Championships and Constructors' Championships.
At the time of writing the Chevrolet team is in the lead for both the Drivers' and Constructors' Championships for the 2012 season. The team's drivers are hoping to take home both trophies in order to end their last season under the Chevrolet banner on a high note.