Atkin, 24, revealed the news to us when we paid a recent visit to the Hollyoaks set, explaining that she feels like it's the right time for her to move on after more than a year in the role of Jason.
The actress added: "Playing Jason has been a phenomenal first role out of drama school. I feel extremely blessed to have performed such a didactic and challenging role.
"I would like to thank everyone for an immensely rewarding year, Jason has been an incredible part however I am now very excited to explore what other roles the industry has to offer."
A Hollyoaks insider told Digital Spy: "Bosses really don't want to spoil the outcome of the big Costello stories that are playing throughout autumn and winter, so they won't say how Jason will leave the show.
"News of Victoria's departure is likely to cause a lot of speculation among viewers, though, as there's already been quite a few fans wondering whether Jason could become a victim of his killer grandfather Silas further down the line. Silas once murdered his own wife, so you just can't put anything past him.
"Whatever happens, the Costellos are going to be devastated when the truth about Silas is revealed and Jason has already had a really tough time in the village with all of the Bart and Sinead dramas. Even if he doesn't get killed off, he's unlikely to get a happy ending."
Meanwhile, a Hollyoaks spokesperson told us: "We can confirm that Victoria will be leaving the show but to avoid spoiling the forthcoming stories for viewers, we can't confirm how or when the character will depart."
Atkin joined the cast of Hollyoaks in summer 2010 and viewers have watched a long journey for her character over the past year as Jasmine started to make the transformation to Jason.
What do you think - could Jason be Silas's next victim? Will he bow out due to his tangled history with Bart and Sinead? Or could it be a different storyline altogether? Share your thoughts using the usual box below!