Stefanovic said in a statement: “For the last 14 years I’ve co-hosted the best show on television. I can’t thank Nine enough for the opportunity. I never in my wildest dreams thought I would be good enough to host this grand show for so long.
“Thanks to our viewers mostly, you are what matters most. It’s been a tough time. Thanks for hanging in there. I look forward to seeing you in another capacity at this great Network soon.”
The news comes one day after Nine confirmed Karl's younger brother Peter Stefanovic had parted ways with the network.
A Nine spokesman confirmed Stefanovic was leaving the network after 15 years, news.com.au reports.
“Nine and reporter Peter Stefanovic have mutually decided to part ways after 15 years,” a Nine spokesperson told the publication.
“Peter has decided to explore new opportunities and is looking forward to spending weekends with his wife.
“He has been a respected member of the Nine News team and Weekend Today, and we wish him all the best for the future.”
In a statement, Peter said he had “an amazing time at Nine being a foreign correspondent, news reporter and covering some amazing stories for 60 Minutes."
“I’ll miss my friends at Nine very much, it has been a huge privilege to work alongside so many great people,” he added.
Nine will announce the new Today Show lineup in the coming weeks.