According to sources here, Sangakkara has expressed his desire to relinquish the post to Sri Lanka Cricket (SLC), though he is willing to play for another 2 to 3 years.
The player is expected to make an official statement later in the day.
There is also speculation that the 33-year-old left-handed batsman would retire from One-day Internationals and the Twenty20 format.
Sources claimed that Sangakkara will leave his post at the end of Sri Lanka's tour of England, which ends with the third and final One-day International in Lord's on July 3.
Sri Lanka are due to start their first of the three-match Test series against England in Cardiff on May 26.
Sangakkara, 33, made his debut in 2000 and took over the captaincy from Mahela Jayawardene in 2007.
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