"Tyra's been inundated with producing and acting requests... She wants to produce and create TV. She will not be returning to AGT in the new year," a source told Page Six.
Back in November, Tyra hinted she might be leaving America's Got Talent in order to pursue other projects.
"I don't know [if I'll be coming back]," the former supermodel told Access at the time, shortly before the release of her latest film, Life Size-2: A Christmas Eve, on Freeform.
"I think I had a really nice run with AGT. I had a lot, a lot of fun. I'm really focusing on Life-Size... I'm going to be producing TV and I have a massive project starting next year. I'm not so sure, but if I don't come back, I had a lot of fun."
Tyra declined to reveal more details on the huge, secret venture she has coming up, but she did share with Access it's "something that has never been done before."
"It is so massive. It's really making me look at everything that I'm doing and saying, 'What can I peel off? What can I not do? What can I truly focus on?' It's coming out in the fall of next year," Tyra said.