Basit, who was set to retire from the Ministry of Foreign Affairs in April 2018, had "submitted an application to Prime Minister Sharif for his early retirement which was accepted," Geo News reported, citing sources.
The channel did not give any reason for Basit's premature retirement but foreign office sources earlier told PTI that he was unhappy over the appointment of current foreign secretary Tehmina Janjua, who is junior to Basit.
Basit joined the Foreign Service in 1982 and held several diplomatic assignments at Pakistani missions abroad.
Sohail Mahmood, the new designated High Commissioner to India, is expected to take up his responsibilities next month, the channel reported.
Mahmood, 55, currently Pakistan's envoy in Turkey, is a career diplomat who joined the Foreign Service in 1985.