Our favorite 'Carpool Karaoke' host is saying farewell.

"The Late Late Show" host announced that he plans to retire from the talk show in 2023 after what will be his eight and final season.

Corden, who has hosted the show since 2015, spoke about his decision on Thursday night's show, unable to hold back his emotions.

"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," he said. "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."

And while it may take some time for fans to come to terms with Corden's departure, he's not leaving just yet. In true Corden style, the host said that he intends to "go out with a bang" and that next season would be the show's "best year."

We wouldn't expect anything less.

JAMES CORDEN BEST MOMENTSwww.youtube.com

George Cheeks, president and CEO of CBS, wrote in a statement provided to CNN about Corden's retirement,

"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."

"The Late Late Show" is known for its popular segments such as "Crosswalk the Musical" and "Carpool Karaoke," which drove up more than a billion YouTube views on the show's page and generated a lot of buzz about the comedian and the program.

"In my two years at CBS, I've had the privilege to see James' creative genius up close and experience his valuable partnership with CBS, both as a performer and a producer," Cheeks continued. "We wish he could stay longer, but we are very proud he made CBS his American home and that this partnership will extend one more season on 'The Late Late Show.'"