Rhodes, who was replaced by Paul Welburn at Restaurant W1 at the Cumberland Hotel last September, will end his 10 year contract with Restaurant Associates in September by removing all association with the restaurant at Tower 42.
A spokesperson for Restaurant Associates said both parties had decided to call it a day after a successful decade of collaboration.
"Working with Gary across two restaurants; Rhodes 24 and W1, and gaining a Michelin star in each, now feels like the right time to go our separate ways, develop new relationships and create new, exciting opportunities," she said.
"We would like to thank Gary for everything he has contributed to our business over the years and wish him every success in the future."
Decade of success
A spokesperson for Rhodes, who recently opened Rhodes @ The Dome in Plymouth, said the chef felt it was time to move on after a 'decade of culinary success'.
"Gary is hugely proud of what he has achieved with the restaurant over the past 10 years and, along with the five years that he spent at his other Michelin star restaurant at The Cumberland Hotel, has nothing but praise for Restaurant Associates, with whom he has a great relationship.
"However, with his new venture Rhodes @ The Dome having recently opened in Plymouth and with the opening of Rhodes 44 at the St Regis in Abu Dhabi this summer, Gary simply felt that it was time to move on after what has been a wonderful decade of culinary success at Rhodes Twenty Four."
Restaurant Associates said it would continue to run the restaurant, situated on the 24th floor of Tower 42 in the City, with one of its associate chefs, but said it was too early to confirm who.
The company's associate chefs include Albert Roux, Michel Roux Jr and Jason Atherton.