Seth Meyers replaces Fallon as the host for "Late Night" on NBC, which will start in 2014.

The SNL star for over a decade's most notable appearance with the skit "Weekend Update" for seven years, now Seth Meyers replaces Fallon in a spot that Jimmy Fallon held since 2009. Fallon, also a former SNL star, will replace Jay Leno as he moves up an hour earlier.

Now that Seth Meyers replaces Fallon for the "Late Night" weeknight show that has been hosted by Fallon, Conan O'Brien and David Letterman, he has the chance to carry on the tradition of a prime spot on NBC.

"We think Seth is one of the brightest, most insightful comedy writers and performers of his generation," NBC Entertainment chairman Robert Greenbatt said in a statement. His years with SNL "helped him hone a topical brand of comedy that is perfect for the 'Late Night' franchise."

Meyers has hosted the ESPY's before, and most of his work on SNL was with "Weekend Update." He's not just being thrown into the wilderness of T.V. host. Jimmy Fallon was also a "Weekend Update" host before hosting "Late Night."

"He's well-known, he's funny, and I think that will help him," says analyst Brad Adgate at ad firm Horizon Media, adding he's a natural choice who's "very compatible with Fallon, and certainly the ratings expectations aren't as great." Given Meyers' background as a writer who doesn't appear in SNL sketches, Adgate expects him to do more interviews and less physical comedy than Fallon.

Meyers, 39, has also been the head writer for SNL for eight years under executive producer Lorne Michaels, so he has a lot of intangibles to be the host on the show that airs five days a week.

"I only have to work for Lorne for five more years before I pay him back for the time I totaled his car," Meyers joked. "12:30 on NBC has long been incredible real estate. I hope I can do it justice."