His character, Aidan Connor, will be exiting the soap as part of a top-secret plot.
Cast and crew are under strict instructions not to reveal any details about the character’s fate.
The source revealed to The Sun: “Nobody will see this coming. Viewers are going to be absolutely stunned. It’s going to be a blow for the fans – but also a massive TV moment.
“Everybody wants Shayne to be a huge part of the show next year.”
His final scenes will be aired in May.
Shayne joined the soap three years ago as the cousin of Michelle (Kym Marsh) and has had his fair share of key storylines, including his disastrous wedding to Eva Price (Catherine Tyldesley).
The insider added: “Shayne has become one of Corrie’s most popular actors. He’s a huge hit with the fans and has even won awards for his performances.”
Shayne won the Best Newcomer category at both the National Television Awards and the Inside Soap Award in 2016.
The actor was also the winner of The X Factor in 2005.
Coronation Street continues on Friday at 7.30pm on ITV.
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