David Dimbleby is to leave 'Question Time' at the end of 2018.
David Dimbleby
The 79-year-old presenter has chaired the BBC's flagship political programme since 1994, but he has now decided to walk away from the role, insisting it is "the right moment to leave".
He explained: "At the end of the year, I will have been chairing 'Question Time' for a quarter of a century and I have decided that this is the right moment to leave.
"It has been a privilege to work for a programme which brings voters face to face with those in power. I am grateful to the production teams and to the BBC who have made this possible.
"It has been exhilarating following the twists and turns of British politics from John Major in 1994, through the [Tony] Blair and [Gordon] Brown years to [David] Cameron and May."
Dimbleby has no intention of retiring, and the broadcasting veteran has revealed he will be returning to reporting in 2019.
He said: "After years in the studio, I now plan to return to my first love: reporting."
Meanwhile, Lord Tony Hall, the BBC's director general, has paid a glowing tribute to Dimbleby, saying the corporation has been "extraordinarily lucky" to have had him on board for so long.
He explained: "David has been at the helm of 'Question Time' for over 25 years: a brilliant champion of the public and the audience's friend - getting the answers they want on the big and difficult issues of the day."
The BBC boss is also looking forward to seeing Dimbleby work on other programmes over the coming years.
He said: "The BBC and the public are extraordinarily lucky to have him in what are - to say the least - interesting times politically and socially. We look forward to working with him on other projects in the future."
Dimbleby's final appearance in the 'Question Time' chair will be broadcast on December 13.
The BBC has yet to announce his successor, with the likes of 'Newsnight' presenter Kirsty Wark and newsreader Huw Edwards rumoured to be in contention for the role.
They head the betting as 4/1 joint favourites with William Hill, followed by 7/1 shot Nick Robinson, and Carolyn Quinnm and Jeremy Paxman are both 8/1.
William Hill spokesman Rupert Adams said: "Kirsty is an excellent presenter and my money is on her being handed the reins."