After weeks of speculation surrounding Maldonado's future, Williams confirmed on Monday they are replacing the Venezuelan for next year with Felipe Massa.
Maldonado, who faces the final two grands prix in the United States on Sunday and Brazil next weekend, has revealed that although he has taken a tough decision, he made up his mind in September whilst in Singapore for the grand prix.
Without doubt Maldonado leaves a team that have endured the worst year in their history in terms of results on track, claiming just a solitary point from the 28-year-old's 10th place in Hungary.
Asked whether he was disappointed to be leaving after three years with the Grove-based marque, surprisingly Maldonado said: "No, I'm very happy. I wanted to leave the team, and I'm happy about that.
"It's been a tough year, very hard for the whole team, but personally I want to drive something different.
"This is an important time for me in my career. It's a tough decision - my decision - but a great one.
"Overall, I feel I delivered more to the team than they did for me.
"We had a victory, some good results last year, and even this year we've done well in some races, but this is not everything.
"I'm waiting and expecting something more from Formula One."
One option for Maldonado is Lotus, who have made it clear their first choice is Sauber's Nico Hulkenberg.
However, with difficulties ongoing in concluding a deal with a group of investors known as Quantam Motorsports with regard to a 35% stake in the Enstone-based team, Maldonado may yet be an option.
In joining Williams, Maldonado brought on board as a sponsor PDVSA, Venezuela's state-owned oil and gas giant for £27million per year.
Whether PDVSA would again join forces with Maldonado should he sign for another team he is unsure, as he added: "Maybe yes, maybe no. It's up to them.
"I am not PDVSA. They are a Williams sponsor, not my sponsor, who signed up when I arrived in Formula One.
"At the moment nothing's signed (with another team). We're working on things. We're talking with Lotus, and I've another couple of options.
"I hope soon to have a clear decision with everything all sorted, and a clear road for next year."
Maldonado is in no doubt he brings plenty to the table in his own right, and not just a cash-laden sponsor.
"The important thing for me is to be in Formula One," said Maldonado.
"Of the young drivers I'm the only one who has won a race, (in Spain last year), so I can deliver a lot.
"Last year I was always competitive, but because of the condition of the car I've had this year everyone has forgotten my talent, the results and where we were last year.
"But I 100 per cent believe in my talent. I've won all the categories in the past, and I hope to win in Formula One again next year."