Frenchman Loubet linked up with Thierry Neuville's former co-driver Gilsoul for his first full season at the highest level of the WRC.
However, late on Friday afternoon, Loubet took to social media to announce the ending of the relationship.
He wrote on Instagram(translated from French): "Our paths separate faster than expected despite our joint determination to make our collaboration a success.
"The experience you brought to me for this first full season in the WRC will be treasured for years to come.
"Wish you all the best for the future @nicolasgilsoul."