The actor, who made his first appearance as bad boy Nathan Wylde in February 2009, will bow out later this year after choosing not to renew his current contract with the Yorkshire-based drama.
Reports suggest that, while Nathan's final storyline will be dramatic, the door will be left open for the character to return in the future.
Speaking to the Daily Star Sunday about his decision, Ogbourne commented: "Emmerdale has been such an incredible experience for me and the final act of the Wyldes' drama will be so gripping. I've had great fun and learned so much from creating one of the most love-to-hate Emmerdale characters.
"But my personal ambition and excitement for future projects has led me to feel this is the right time to leave. But I believe this won't be the last you've seen of devilish Nathan Wylde."
Emmerdale's series producer Gavin Blyth added: "We will be very sorry to lose a character like Nathan from the show. He's really come into his own in recent months."
Ogbourne's news follows the previous announcements that his screen family members Alice Coulthard (Maisie) and Amanda Donohoe (Natasha) are also leaving the soap.
Since arriving on screen last year, the Wylde family has been at the forefront of the programme with a series of high-profile storylines. Their current dark plot - centring around the death of family patriarch Mark at the hands of Natasha - is expected to reach its climax later this year.