The 80-year-old will leave his post on Live with Regis and Kelly on November 18.
Philbin made the announcement Tuesday as the television show began its 24th season.
“Friday, Nov. 18 is my last day,” Philbin said, adding, “But don’t worry, the show goes on.”
The veteran show host announced his retirement last January, without specifying the date of his departure.
On Tuesday, he joked, “Last January I made the announcement that I’ll be moving on. But I never gave you an exact date. So I’m pushing it back five years. Just kidding.”
Philbin has co-hosted the show for nearly 28 years. He first worked with Kathie Lee Gifford before Kelly Ripa took over in 2001.
Ripa will host the show with a new co-host, whose identity is still unknown.
“Kelly will be trying out new co-hosts, just like we did 11 years ago when we found her,” Philbin said, joking that Ripa would be looking for a “new young hot” male co-host.
“Alive and breathing is what we’re talking about,” Ripa jokingly replied
Philbin has won two Emmys for the show, for outstanding daytime talk show host. He has also been given a lifetime achievement award by the Academy of Television Arts and Sciences.