Russell Crowe is set to stand aside as co-owner of the South Sydney NRL club after next season.

Rabbitohs co-owner Peter Holmes a Court has confirmed the move to News Limited papers after reports emerged this morning saying the Academy Award-winning actor was about to leave the club.

Souths are holding a media conference tomorrow in Sydney to formally announce Crowe's departure.

Crowe has been a part-owner of Souths since 2006, but there has been persistent talk in league circles that he is about to go.

Fairfax media and Channel Nine are reporting that the Academy Award-winner Crowe - who assumed ownership of the Rabbitohs alongside Holmes a Court in a messy takeover in 2006 - is attempting to simplify his life by getting out of the club.

Together, Crowe and Holmes a Court hold a 75 per cent stake in the Rabbitohs, with some estimates claiming the pair have poured in $11 million into the club.

The reports state Crowe will sell his interest in the club at the end of 2013 NRL season.

Crowe has been credited with helping revive the Rabbitohs after several years of poor performances following their re-admittance to the competition in 2002.

Last season the Rabbitohs enjoyed their best season since re-admission when they reached the preliminary final, where there lost 32-8 to Canterbury.

ABC/AAP