The music show's presenters Dylan Lewis and Faustina Agolley bid farewell to viewers in the final episode this weekend, thanking them and the Ten Network for their support during 24 years on television, The Daily Telegraph reports.
Lewis said: "Thank you to Channel Ten for letting us be on air for 24 years, thank you to all the bands and record companies and artists who have appeared on the show, thank you for watching."
Video Hits was the world's second longest-running music show after the Eurovision Song Contest.
In July this year, Ten's head of corporate communications Jeanette McLachlan hinted at change when she said that "all networks continually look at their programming schedules". The axing of Video Hits was announced soon afterwards.
Agolley later said: "Change is inevitable in the landscape of television. It is sad for the show and the viewers. I'm not sad about this job that I love coming to an end. With my perspective, this is nothing compared to some of the stuff I have had to deal with in my personal life."
She also revealed that she is looking forward to finding more work and would love to do "something more cerebral where I don't say 'dude' every few minutes".
Watch Video Hits presenter Faustina Agolley interview singer Adam Lambert below:
