It marks the first time in nine years that the Ford team will run just three cars, having expanded to four entries in 2013.
The team had mixed success in its time running four cars, with 2019 the only season all four entries finished in the top 10 in the drivers' standings.
Consecutive Bathurst 1000 victories in 2013 and 2014, and a drivers' championship for Mark Winterbottom in 2015, remain the Campbellfield team's highlights since it joined the grid in 2003.
In mid-2012, it was announced that the then-named Ford Performance Racing would expand to a four-car operation in 2013 with the acquisition of the #18 Racing Entitlement Contract owned by Charlie Schwerkolt.
The #18 REC had been used by Dick Johnson Racing to run James Moffat's car in 2012.
The fourth FPR car was run as a satellite of the team, in the same way as the #55 Rod Nash Racing car was run, with Alex Davison joining the ranks.
Early in 2013, it was announced that Prodrive had sold its stake in FPR to Nash and Rusty French.
In 2015, Schwerkolt took the REC and formed his own team. Super Black Racing entered the category full-time as a customer of the newly-named Prodrive team with an REC leased from DJR Team Penske.
Two years later, Jason Bright moved his Britek Motorsport REC from Brad Jones Racing to Prodrive. Super Black Racing closed at the end of 2016, with its REC sold to French, who on-sold it to Tim Blanchard.
In 2018, Bright leased the REC to Matt Stone Racing, which made its championship debut entering an DJR Team Penske-built FG X Falcon.
Lucas Dumbrell Motorsport sold one of its RECs to Prodrive, and the team was rebranded as 23Red Racing after sponsor Phil Munday purchased a 60 per cent stake in the team.
Munday took full ownership in April 2018 and driver Will Davison competed with a Prodrive-built FG X Falcon.
James Courtney and Boost Mobile moved into the Tickford fold during the 2020 season suspension amid the COVID-19 pandemic, which had forced the closure of Munday's team.
Davison was forced out of a drive, with Courtney joining Cameron Waters, Holdsworth and Jack Le Brocq.
Thursday's news ends a long run of REC trading for Tickford, with Holdsworth the casualty.
Despite a slow start to life in a Mustang, Holdsworth finished 10th in the championship in 2019 and 11th last year. He was also on provisional pole ahead of what would be his last start for Tickford, at last October's Bathurst 1000.
With Le Brocq moving to the #5 Truck Assist-backed entry, the #55 will no longer be campaigned by Tickford. Waters (#6 Monster Energy Mustang) and Courtney (#44 Boost Mobile Mustang) are unchanged from 2020.