Lisa Wilkinson confirmed the news on Monday night saying she had appeared on the morning TV show for the final time.
"I have some news. I'm sad to say that today was my last day on The Today show," she said on Twitter.
Her confirmation came with a statement from Nine, expressing their disappointment Ms Wilkinson had not signed on for a further period.
"Nine today confirmed we have been unable to meet the expectation of Lisa Wilkinson and her manager on a contract renewal for a further period," the statement read.
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"We express our gratitude to Lisa for her Ten years with the Today Show and are disappointed we find ourselves in this position."
Nine said it will be going in "another direction" and will consider "options in the coming weeks and months.”
Ms Wilkinson will be joining Ten's flagship program, The Project saying she is "absolutely thrilled" by the opportunity.
In a statement Network Ten said "Lisa will join the team of Ten’s award-winning news and current affairs program, The Project, in a hosting role."
“She will work alongside hosts Carrie Bickmore, Waleed Aly and Peter Helliar, as well as hosting The Sunday Project.
"Further collaborations between Lisa and Network Ten will be announced in the coming months.”
The shock announcement has garnered a string of reactions on Twitter from many in the industry.
