In a release at the site of Sunday's Lenox Industrial Tools 301 race in Loudon, N.H., Hendricks said Mears will finish the 2008 Sprint Cup campaign in its No. 5 Chevrolets. His replacement for the 2009 season will be announced at a later date.
"We've put a ton of emphasis on the No. 5 program," said team owner Rick Hendrick. "It's been a total team effort, and Casey has worked as hard as anyone to help us improve. We've tested more than we ever have, but the results just haven't come."
Mears's best finish this season was Feb. 14 when he ran fourth at the Gatorade Duel event at Daytona Beach, Fla.
The Charlotte (N.C.) Observer reported Friday that Mark Martin is expected to join Hendrick Motorsports next season and will drive the No. 5 Chevy.