Cal explained his decision to walk away from his "dream job" in a social media video on Tuesday ... wearing a Kentucky blue quarter-zip -- minus the school's logo.

Cal -- who's expected to be announced as Arkansas' next head coach this week -- said he and his wife took some time to reflect after the Wildcats' first-round exit from the NCAA tournament ... and ultimately came to the conclusion his tenure in Lexington ran its course.

"This is a dream job," Cal said. "It was my dream job. Anybody in our profession looks at the University of Kentucky in basketball and says that is the bluest of blue."

"The last few weeks, we've come to realize that this program probably needs to hear another voice, that the university as a whole has to have another voice giving guidance about this program that they hear. And, the fans need to hear another voice."

Calipari made it clear he was thrilled with his time at the helm ... but he's ready for the next challenge.

"There have been opportunities that have been presented to us, so we're discussing them as a family. I love coaching. I love coaching young people. I loved this year's team. I loved every day walking in. They've invigorated me. I love the chase for championships. I love bringing the kids together. It's what I do. It's who I am."

Cal thanked all those he interacted with over his career with the Wildcats ... especially the players and their families for what they accomplished on and off the court, his staff and the fans of Big Blue Nation.

65-year-old Cal finishes his time in Lexington with 32 NCAA tournament wins ... including four Final Four appearances and a championship in 2012.

Despite all the overall success, the Wildcats ran into rough times in the postseason recently ... earning just one tourney win since 2019.