Jeremy Paxman is well known for his acerbic put-downs[REX]The broadcaster, 63, handed in his notice last summer but stayed on and kept his decision private for almost a year to help out a new team on the show.
Paxman, will present his last Newsnight in June but will continue to present BBC2 quiz show University Challenge.
The veteran presenter made light of his departure, saying he was looking forward to having an early night for once.
“I have decided it is time to move on from Newsnight,” he said.
“After 25 years, I should rather like to go to bed at much the same time as most people.
“This was a decision I reached – and informed the BBC of – last July.
"I shall work out the remainder of my contract and will not seek another.”
He added: “It’s been fun.
This was a decision I reached – and informed the BBC of – last July
"I have had the pleasure of working with lots of clever, creative and amusing people.
"I think I’ve been lucky and wish the programme well.”
However, many TV insiders have hinted at tension between Paxman, who is known for his acerbic put-downs on the show, and new editor of eight months Ian Katz.
Ex-newspaper editor Katz, who has been described as “energetic”, “dynamic” and “ideas-oriented”, is said to have wanted a fresh face and new look for the show.
The relationship between Paxman, who caused a stir last year when he grew a beard, and the BBC was tested recently when he said: “There’s a pile of stuff on the BBC I can’t stand.”
Last night Katz heaped praise on him saying: “It’s been a huge privilege to work with Jeremy.
"I’m deeply grateful to him for delaying his departure.
"We – and the viewers – will miss him greatly.”
BBC Director General Tony Hall called him “a rare and dazzling talent”.
A woman could replace “Paxo” with presenters Emily Maitlis, Kirsty Wark and Laura Kuenssberg each tipped to take over.
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