The specially designed Mercedes-Benz G-Class SUV will be replaced by a Hyundai Santa Fe, according to online news site The Chosun.
Hyundai has also offered the Pope a compact minivan to use when he visited South Korea last year.
The Holy Father is famously frugal in his personal arrangements, and has previously said he wants "a poor Church, for the poor".
The pontiff has a range of international engagements this year including a visit to the United States and Cuba in September.