X Factor host Dermot O’Leary has parted ways with the X Factor, after eight years of presenting it.

O'Leary said: "I'd like to thank ITV, Simon, The X Factor family and particularly the viewers, all of whom have been a big part of my life for so long.

I'd like to wish the team all the best for the future, especially whoever takes over from me.

You're about to be the conductor on the most brilliant, runaway train in showbiz. Good luck you'll love it."

Afterward the former X Factor presenter tweeted: 

"Well... That wasn't exactly an ordinary day. Thanks for all the love and best wishes today. Really appreciated. Best decision, me thinks."

Music mogul, Simon Cowell, wrote on Twitter: "Dermot has been an amazing presenter on the X Factor.. He held the craziness together. Most of the time. He is a great guy and a real talent."

Olly Murs is the hot favourite to replace 41-year-old O'Leary, but nothing has been signed yet.

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Check out a video of O'Leary addressing possibly leaving X Factor earlier this year: