Jay Leno leaving 'The Tonight Show,' Jimmy Fallon taking over in 2014

Conan O'Brien will believe it when he sees it.

Jay Leno is officially leaving "The Tonight Show" in 2014, NBC announced on Wednesday.

Comedian Jimmy Fallon will replace the long-time "Tonight" host, in a move that has been rumored to be in the works for several weeks.

Back in 2009, Leno stepped down when O'Brien hosted the show for several months, but the veteran late-night star eventually reclaimed his hosting gig in 2010.

But this time, it seems Leno will be done with "Tonight" for good.

In a statement sent to FOX 411 he said: “Congratulations Jimmy. I hope you’re as lucky as me and hold on to the job until you’re the old guy. If you need me, I’ll be at the garage.”

Fallon, 38, released a similar statement, saying: “I’m really excited to host a show that starts today instead of tomorrow.”

The 62-year-old Leno took over "Tonight" from Johnny Carson in 1992.

Steve Burke, Chief Executive Officer of NBCUniversal, called Leno an "entertainment icon" and said the timing of the move couldn't be better. 

“We are purposefully making this change when Jay is #1, just as Jay replaced Johnny Carson when he was #1," he said. "Jimmy Fallon is a unique talent and this is his time."

Over the past several weeks, many speculated Leno was on the way out as he mocked NBC execs on air, leaving viewers wondering if tensions were running high behind the scenes at "The Tonight Show."

"You know the whole legend of St. Patrick, right? St. Patrick drove all the snakes out of Ireland -- and then they came to the United States and became NBC executives," Leno joked on on a recent episode of the show.

In the announcement on Wednesday, NBC confirmed rumors that the show would move from Burbank, Calif., to New York City and be filmed once again in the 30 Rock studios.

"As part of the transition, 'The Tonight Show' will be returning to its original home in 30 Rock in New York and will be executive-produced by Emmy Award winner Lorne Michaels ('Saturday Night Live,' '30 Rock')," the NBC announcement stated. 

In the April issue of GQ magazine, "Late Night" producer  Michaels said a transition to Fallon had "an inevitability to it," adding that he was "the closest to Carson that I've seen of this generation."