Alex Albon is "not giving up" on Formula One after admitting he was left hurt by Red Bull's decision to replace him for the 2021 season.

The F1 team confirmed on Friday that Sergio Perez will partner Max Verstappen next year, the former having finished fourth in the 2020 drivers' championship standings while at Racing Point.

Albon is still to remain with Red Bull as a test and reserve driver, as well helping with preparations for the 2022 regulation changes.

The 24-year-old - who finished this year with 105 points, including a pair of podium finishes - is determined to earn a place back on the grid.

"I can't lie guys, it hurts. I gave it everything out there, but it wasn't quite enough," Albon wrote on Instagram.

"I want to say a huge thank you to all of you that supported me throughout this year, especially my Thai fans. With all the different opinions out there, I always had you guys to push me through it.

"I'm not giving up, I've poured my life into this and I won't let it stop here.

"I have more to give and my focus is getting back for 2022 and to wave the Thai flag again!"

A post shared by Alex Albon (@alex_albon)

Perez finished fourth in the final championship standings, despite missing two races after testing positive for coronavirus, as well as being forced to retire in Abu Dhabi at the end of the campaign.

The Mexican was second in the Turkish Grand Prix before going on to earn an emotional first career win at the Sakhir Grand Prix.

He will join forces with Verstappen, who won two races to end up in third place for 2020, behind only the Mercedes duo of Lewis Hamilton and Valtteri Bottas.