Craig Ferguson announced during a taping of his talk show Monday that he is stepping down.
That episode of "The Late Late Show" airs Monday night/Tuesday morning at 12:37 a.m.
Ferguson says he plans to leave the program in December of this year, according to a release from CBS.
"During his 10 years as host, Craig has elevated CBS to new creative and competitive heights at 12:30," Nina Tassler, chairman of CBS Entertainment said. "He infused the broadcast with tremendous energy, unique comedy, insightful interviews and some of the most heartfelt monologues seen on television."
"Craig's versatile talents as a writer, producer, actor and comedian speak to his great days ahead. While we'll miss Craig and can't thank him enough for his contributions to both the show and the Network, we respect his decision to move on, and we look forward to celebrating his final broadcasts during the next eight months," Tassler said.
"CBS and I are not getting divorced, we are 'consciously uncoupling,'" Ferguson told his audience. "But we will still spend holidays together and share custody of the fake horse and robot skeleton, both of whom we love very much."
The Scottish-born Ferguson has hosted "The Late Late Show" since 2005 when he took the reins from Craig Kilborn.
Ferguson has several projects in the works, including hosting "Celebrity Name Game," a syndicated game show beginning fall 2014, as well as developing television projects via his Green Mountain West production company, according to the release.
The program won a Peabody Award in 2009, and an Emmy Award nomination for it host in 2006.