Calipari said it was time to step away "completely" from the Kentucky program.
He also mentioned another coaching opportunity rumored to be at Southeastern Conference rival Arkansas.
"The last few weeks, we have come to realize this program probably needs to hear another voice," Calipari said.
"That the university as a whole has to have another voice giving guidance about this program. The fans need to hear another voice. We think it's time for us to step away and step away completely from the program. There have been opportunities presented to us and we are discussing them as a family."
Kentucky athletic director Mitch Barnhart also released a statement on social media, just minutes after Calipari posted his video to social media,
"We're appreciative of John Calipari leading our program for the last 15 years, adding to the legacy of championship success at Kentucky," Barnhart's statement read.
"We're grateful to John for his many contributions to the University, and our state, both on and off the court. We are working diligently to hire a proven, highly dedicated coach who embraces the importance of this program to our fans and the state of Kentucky."
