Park was the first full time Winston Cup driver at DEI since he joined the team in the fall of 1996 before a full time ride in the Busch Series the next year.
He was a contender for the championship in 1997, finishing third in the series point standings and capturing the Rookie of the Year title.
Park went on to compete in the Winston Cup series regularly beginning in 1998, where he made 157 starts and had two victories and three poles. His best finish in the points standings was 11th in 2000.
"Steve was instrumental in DEI's first NASCAR Winston Cup program," said owner Teresa Earnhardt, wife of the late Dale Earnhardt. "Our loyalty to each other was hard to overcome, however the time came where we simply had to make a change. We wish Steve the best in his future endeavors."
Park's only top-10 finish this season was a 10th in Las Vegas on March 2.