The 27-year-old - who has played the corner shop worker since May 2005 - this afternoon announced her intention to leave the Weatherfield serial for pastures new at the end of her current deal.
Speaking of her decision, Binns said: "It's been a joy to be involved in such a fantastic storyline and it is only right that it has the explosive ending viewers are waiting for. I am very excited about playing out the rest of this plot and indeed about what the future holds."
She added: "I've had an amazing time in the show and feel it's right to leave on such a high."
After enjoying a six-month affair with her husband Tyrone's (Alan Halsall) best friend Kevin (Michael Le Vell), Molly and Kevin planned to end their respective relationships and start a new life together on Christmas Day.
Their efforts, however, were thwarted by Kevin's wife Sally's (Sally Whittaker) tragic breast cancer news. Kevin immediately ended their romance and essentially shut Molly out of his life.
Only months after their split, Molly made the shock discovery that she was four months' pregnant to either her husband or lover.
Due to give birth in August, Molly now faces the prospect of the baby's true paternity being revealed.
The soap's new producer Phil Collinson commented: "This storyline has been central to the drama of the show for a year now and I hope that the many different twists and turns we have planned will keep the fans on the edge of their seats for months to come."
He went on: "Vicky is a superb actress who has helped to make the Molly, Kevin, Tyrone love triangle one of the most talked-about soap storylines of the year. We wish her every success for the future."
Bosses are remaining tight-lipped over the next twist in the story, but promise "more shocks" to come.
Binns is due to finish filming and bow out on screen before the end of the year, with a potential tie-in to the show's 50th anniversary celebrations in December.
Other departures over the course of the coming months include Street stalwart Jack Duckworth (Bill Tarmey), Claire and Ashley Peacock (Julia Haworth and Steve Arnold) and crimper Natasha Blakeman (Rachel Leskovac).