The actor, who plays Marcus Dent, will finish filming in early summer next year following a dramatic storyline for the character.
Over the next few weeks, viewers will see Todd Grimshaw's (Bruno Langley) bad behaviour continue as he set his sights on Marcus.
In the New Year, Todd's efforts pay off as Marcus falls for his charms - despite his current relationship with hairdresser Maria Connor (Samia Ghadie).
Show bosses are promising that the ensuing storyline "will divide the residents of Coronation Street".
Speaking today (November 26), Condou commented: "I've had a fantastic time at Corrie but feel it's time for me to move on. I was only meant to return for three months and ended up staying for three years!
"The producers have been really supportive and are leaving the door open for Marcus which is great, and my exit will certainly be explosive."
Coronation Street's producer Stuart Blackburn added: "I will be incredibly sad to see Charlie go and wish him well for what I know will be an exciting future."
Marcus fell for Maria in a surprising storyline last year, despite having always identified himself as gay. He had previously dated Sean Tully (Antony Cotton).
Condou's original stint on Coronation Street ran between 2007 and 2008. He later returned from 2011.
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