The panel comedy show, hosted by Hills and with Warhurst and Alan Brough as team captains, was aired for the last time last night after a seven-year run.
When asked what emotions she feels about the end of the show, Warhurst told The ABC: "A lot at the moment. It didn't really feel real until the last few days when we've been talking a lot about it. Now it's happening and it won't be on any more and I'm not sure what I'll be doing next year! It's all very daunting but exciting."
Hills said: "It was our choice. We've had a good run and didn't want to be one of the shows that tailed off. We didn't want people to say, 'You used to have really good figures'. Seven years felt like a good time - 277 episodes."
He then reminisced about his most memorable guests, saying that they had secured Alice Cooper for an appearance but when they called to confirm, he said: "I'm not coming on - I've got to play golf."
Hills, who recently likened Spicks and Specks to a "dinner party", said of Australian actor and guest Geoffrey Rush: "We only knew he wanted to come on the show because we read an interview with him in which said it was one of his favourite shows and he would love to be a guest, so we immediately rang his management."
Warhurst said that "one of [her] favourites" was Uncanny X-Men frontman Brian Mannix, adding: "He was amazing. He turned it on every time he came on the show and made the same joke every time. We loved it, it was magnificent."
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Watch a 'best of' compilation from Spicks and Specks below (contains some adult humour):