Philbin made the announcement during the Host Chat portion of the show.
The show, known as "LIVE! with Regis and Kathie Lee" when Kathie Lee Gifford was co-hosting, has aired since 1983 in New York City, and nationwide since 1988.
The show airs Monday through Friday at 9 a.m. on WTOK-TV.
Officials for the company said the show itself will continue. In the coming months, a new co-host will be chosen to work with Kelly Ripa, who will mark 10 years on the show next month.
Producers say special segments will be part of the show as it counts down to a "spectacular farewell celebration" for Regis.