ET has confirmed that Valdes -- who plays Cisco Ramon, a.k.a. Vibe -- will be ending his run as a series regular after the current seventh season comes to an end.
Meanwhile, Cavanaugh's time as a series regular came to an end in the third episode of season 7, although he has made several recurring guest appearances in subsequent episodes.
"Tom and Carlos have been an integral part of our show for seven seasons, and will be greatly missed," showrunner and executive producer Eric Wallace tells ET. "Both are incredible talents who created beloved characters that fans and audiences around the world have come to love."
Wallace added that the show is "happily keeping the door open for return appearances" in future seasons.
The Flash airs Tuesdays at 8 p.m. ET/PT on The CW.
-- Reporting by Philiana Ng.