France, its European allies and Canada will carry out a "coordinated withdrawal", due to "a number of difficulties with the Malian transitional regime", according to a press release.
Sweden is participating in both initiatives, but has previously announced a closure.
However, efforts in the Sahel region in general, such as in Niger and the Gulf of Guinea, will continue, it is stated.
France has been conducting military operations in Mali since 2009, with the aim of curbing a jihadist uprising in northern Mali.
French President Emmanuel Macron will soon appear at a press conference.
The announcement of the Swedish effort will come on March 1, announced by Foreign Minister Ann Linde earlier this week.