Jimmy Fallon Confirmed To Replace Jay Leno As Host Of ‘Tonight Show’ In 2014; ‘Tonight’ To Move Back To New York’s 30 Rock

Jay Leno confirmed that he is leaving 'The Tonight Show' and that Jimmy Fallon will replace the 22-year host of the most popular talk show in the late-night time slot.

Jay Leno confirmed the rumors that Jimmy Fallon would officially become his replacement, saying, "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 in the garage."

NBC released a statement confirming the news, saying, "As part of the transition, 'The Tonight Show' will be returning to its original home in 30 Rock in New York," instead of remaining in Leno's home base, Los Angeles. It will be executive produced by Emmy-winner and friend of Fallon Lorne Michaels, of Saturday Night Live and 30 Rock.

The anticipation of a shift in NBC's late night program has been building, leading to a climax in which Leno and Fallon sang a duet to the tune of West Side Story's 'Tonight, Tonight' expressing their fondness for each other.

NBC executives told The Hollywood Reporter early in March that someone would likely replace Leno soon, with his contract set to expire in fall 2014.

The move was only a matter of time.

Jay Leno first left "Tonight" in 2009, passing the torch to Conan O'Brien, the then-host of "Late Night."

Leno moved to a prime time program "The Jay Leno Show," but the ratings were abysmal. So, NBC put Leno back as the host of "Tonight, ousting O'Brien. Conan eventually moved to his own show on TBS, but the situation brought a lot of negative attention to NBC and Jay Leno.

Still, Leno was resilient and he once again brought success to the "Tonight Show."

However, NBC became concerned about losing younger viewers when Jimmy Kimmel joined ABC's late night lineup with "Jimmy Kimmel Live," particularly when it was moved up to the same time slot as Leno and David Letterman's "Late Show" in 2013.

A source close to NBC allegedly told The Hollywood Reporter, "The more time Jimmy Kimmel is in that slot, the more the young audience goes that way, the harder it is for (Leno) to keep that audience."

Leno does represent a traditional form of hosting with his 'Las Vegas-style comedy' according to the New York Times. Unlike Leno, Fallon brings the Internet and social media into his act, offering a brand of comedy that appeals to younger people.

There's a lot of pressure on Fallon, as he has some big shoes to fill. The "Tonight Show" has consistently aired for 60 years, and has remained a solid profit center for NBC. Fallon will join the likes of TV legends Jack Paar and Johnny Carson as hosts of the program; hopefully he will be up for the challenge.

Plans for Fallon's current 12:35 ET/PT time slot on NBC will be announced soon.

Fallon said of his new hosting gig, "I'm really excited to host a show that starts today instead of tomorrow."