Formula Renault 3.5 has been the headline category on the World Series by Renault package since 2005, running with the hugely successful Formula Renault 2.0 Eurocup and tin-top Megane Trophy series, which was replaced this year by the Renault Sport Trophy for GT-style RS.01 racers.
The World Series by Renault format is set to continue, and Renault Sport will focus its energies on the FR2.0 Eurocup and RS.01 Trophy.
While FR3.5 teams have acknowledged Renault's withdrawal is a blow, their outlook is bullish for the future.
To offset Renault's withdrawal, teams' proposals to RPM and Renault Sport next week are believed to include increased prize money for drivers in 2016 and a raise in the rev limit of the engines to increase performance.
Discussions are also set to include the Eurocup's relationship with FR3.5, as the Eurocup champion is currently awarded a €500,000 purse towards an FR3.5 budget
"All the teams have said they're continuing," one team boss told AUTOSPORT.
"Our proposals include awarding a €600,000 cash prize to the FR3.5 champion, either to be spent bridging the gap to a Formula 2 budget or to be spent on sportscars, while also awarding a €200,000 prize to FR3.5's top rookie, to keep him in the category.
"That had the teams' backing. We know the series works, and the interest is there from the driver market."
FR3.5 teams believe that the category's allocation of Formula 1 super licence points is safeguarded despite Renault's withdrawal, and one senior figure told AUTOSPORT 10 drivers have already committed to staying in the series.
Renault Sport did not submit an application to the FIA to run the new Formula 2 series because it believed the terms of the tender placed too great a commercial strain on the promoter.
The 2015 Formula Renault 3.5 season will be notable for being the last with the French company's backing but also produced a worthy champion in Oliver Rowland. PETER MILLS evaluates this year's crop of drivers
Last year's field was extraordinary and hard to match, but the Formula Renault 3.5 grid will still have plenty of talent this season. Glenn Freeman runs through the field ahead of this weekend's season opener
Landing the Fortec seat that took rising star Robin Frijns to the 2012 FR3.5 title was already a good sign for Stoffel Vandoorne. Then McLaren took him under its wing. Peter Mills tells Vandoorne's story so far