Rumours surfaced earlier this month that the designer would not be renewing his contract with the luxury brand and according to reports in magazine WWD this has now been confirmed, with the Spring/Summer 2016 collection set to be his last. It will debut at Paris Fashion Week in September.
At the time of the rumours Kering, the owner of Balenciaga, released a statement saying, "There are discussions between the designer and Balenciaga regarding the renewal of the contract."
According to reports Kering is looking to recruit a "lesser-known, hidden talent" for the high profile position.
Wang took the helm of the fashion house after Nicholas Ghesquiere, who served as creative director for 15 years, left for Louis Vuitton in 2012 following Marc Jacobs' departure.
It is not yet known why Wang is stepping down from the top job but it is thought it is to do with the growing success of his own label.
