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It's believed that Lineker will publicize his decision by Monday.
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Sources have acknowledged this incident made his position at the BBC untenable, although Lineker is said to be devastated by the events and deeply regrets his post.
A statement from Lineker read: "On Instagram I reposted material which I have since learned contained offensive references.
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The interpretation of Zionism he has shared is anti-Semitic and the fact that the BBC thinks it's acceptable is deeply upsetting to its Jewish staff, myself included."
Lineker has stood by his pro-Palestinian stance, commenting: "It's beyond depraved, what they [the Palestinian people] are going through, unimaginable."
He further questioned the global response: "I don't know how the world thinks this is OK.
Palestinians are caged in this outdoor prison in Gaza, and now it's an outdoor prison that they're bombing
Self-defence against what now?".
Lineker then added: "Yes, I understand that they needed to avenge, but I don't think they've helped their own hostage situation at all
People say it's a complex issue, but I don't think it is