The Friends and Episodes star began presenting the BBC Two show alongside Chris Evans in 2016.
The former Friends actor is leaving to spend more time with his family, as the extensive travelling takes him away from his family.
Matt LeBlanc said "It's unfortunate, but for these reasons I will not be continuing my involvement with the show. I will forever be a Top Gear fan and I wish the team continued success. Thanks for a great drive."
With Matt leaving the bets are on as to who might replace him. The bookies favourites include the likes of Guy Martin (Motorbike racer and TV presenter) Jenson Button (Racing Driver) and Jodie Kidd (Race car driver and TV presenter).