By alley - Aug 8, 2017, 1:57 PM ET

Reports: Byron to replace Kahne in 2018

William Byron will be the next driver of the No. 5 Hendrick Motorsports Chevrolet, according to multiple reports.

The 19-year-old will replace Kasey Kahne, with

Hendrick Motorsports confirming Monday

that the most recent Brickyard 400 winner would be released from the final year of his contract.

A full-time competitor in the Xfinity Series for JR Motorsports, Byron has racked up three wins in his first 19 races, including the Lilly Diabetes 250 at the Indianapolis Motor Speedway. In addition to competing for Rookie of the Year honors in the series, Bryon is currently looking at being the number one seed when the playoffs begin.

After making his NASCAR national series debut in 2015, Byron was signed to a Hendrick Motorsports development deal late last year. He finished the 2016 season with Camping World Truck Series Rookie of the Year honors and seven wins.

An official announcement of Byron's move to the Monster Energy NASCAR Cup Series could come as early as this week, according to the reports.

Byron is the 2015 NASCAR K&N Pro Series East champion.

Kahne has driven for Hendrick Motorsports since 2012. In 202 Cup starts with the organization, Kahne has earned six wins, including this year's Brickyard 400. Kahne has also made the playoffs in three of his last five seasons.