Lisa posted the following to her Twitter account:
Lisa captioned the statement, 'I have some news. I'm sad to say that today was my last day on @thetodayshow. The following statement is from Channel Nine...'
According to the post the TV network were 'unable to meet the expectations of Lisa Wilkinson.'
The 57-year-old TV personality has been hosting the popular morning show, alongside Karl Stefanovic, for just over 10 years.
The shock news comes just a day after The Sunday Telegraph reported that Wilkinson was holding out on re-signing with the network until she was granted 'pay parity' with Stefanovic.
The report also suggests the reason behind the shock move is that Lisa wants the same money as Karl, 43, but he's 'rumoured to be on twice as much.'
Nine CEO Hugh Marks thanked Wilkinson for her contribution to the network and the flagship breakfast program.
'Today Show is one of the biggest roles there is in television and requires an enormous commitment from its hosts,' Mr Marks said.
'The partnership between Lisa and Karl has taken the show to the success it is today and we thank Lisa for everything she has done for the show and for Nine over the past 10 years. We all wish her well for the future.'
Before joining Nine, Wilkinson was the editor-in-chief of Cleo magazine and co-hosted the Seven Network’s Weekend Sunrise program.