It's understood that the 29 year old, one of Munster's non Irish eligible players, has attracted the interest of several European clubs who have offered terms that Munster are unable to match.
Commenting on the news Warwick said, "We felt the need to address the recent speculation about my future by confirming my intention to move. I have thoroughly enjoyed my time here with Munster and hope I can contribute in helping the squad achieve the goals we set for ourselves at the start of the season."
Munster coach Tony McGahan said. "We are of course disappointed that Paul will be leaving us at the end of the season. He has been a quality player who significantly contributed at both fullback and fly half over the past four seasons. We understand the reasons for his decision and he leaves with our best wishes both professionally and personally
Warwick joined Munster at the start of the 2007/2008 season and since making his debut against the US Eagles in Chicago and won his 80th cap against Ospreys last Saturday