James Corden’s time on “The Late Late Show” is nearly at an end.

The host recently signed a one-year contract extension that will take him to the end of the 2022-23 season.

Corden, who first started hosting the show in 2015 after taking over from Craig Ferguson, discussed the news during Thursday’s monologue.

“I have some news of my own to share with you. Seven and a half years ago, I started hosting this show. And there is no other way to put it, it has changed my life. I love it. I love all the people that work here. I am so proud of what we’ve achieved. It’s been beyond my wildest, wildest dreams. So I’m happy to announce today that I’ve signed a new contract, to carry on hosting “The Late Late Show,’” he started.

“The other half is, the sadder news is, I’ve decided to sign on for one more year on the show and that this will be my last year hosting “The Late Late Show,” He continued.

“This will be my last year hosting the show. When I started this journey, it was always going to be just that. It was going to be a journey, an adventure. I never saw it as my final destination, you know? And I never want this show to overstay its welcome in any way. I always want to love making it. And I really think in a year from now that will be a good time to move on and see what else might be out there. Okay?” Corden continued.

He assured fans they would “go out with a bang” making this “the best year” yet.

“And there will be tears. There will be so many tears. ‘Cause this has been the hardest decision I’ve ever had to make, it really has. I’ve never taken this job for granted. Ever. Not once. And… the fact that you watch us at home. Or you watch us online. Wherever you are, all over the world. The fact that we get to try and entertain you and spend time with you is an absolute privilege for me and every single person who makes this show. Here’s to the next 12 months and it’s going to be a blast, I promise you that,” he concluded.

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Ahead of the show, Corden had shared the news this would be his last year.

“It’s been it’s a really hard decision to leave because I’m so immensely proud of the show. I’m thrilled to be extending [for a year],” Corden told Deadline. “I always thought I’d do it for five years and then leave and then I stayed on. I’ve really been thinking about it for a long time, thinking whether there might be one more adventure.”

“My bosses here at CBS have been incredibly supportive and extraordinarily patient with me while I made this decision,” Corden added.

“Seven years ago, James Corden came to the U.S. and took television by storm, with huge creative and comedic swings that resonated in a big way with viewers on-air and online,” said CBS president and CEO George Cheeks in a statement. “From ‘Crosswalk the Musical’ to the legendary ‘Carpool Karaoke,’ and every unique comedy segment he introduced, James has truly reimagined many elements of the late night format. He has also been the consummate network showman, entertaining audiences from his nightly perch at Television City as well as the Tony and Grammy stage.”

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“Congratulations, James, on what will be eight incredible years at CBS. 12:30 won’t be the same without you. But looking forward to your exciting adventures as the new Doctor Who!” Stephen Colbert joked as news broke.