Tony Robinson's archaeology series, which began in 1994, will bow out with a final series next year, including an episode looking back at highlights from the show's 250 episodes.
A number of Time Team specials have also been planned, which will air into early 2014. Classic episodes will also be rerun on Channel 4 and More4.
Robinson, who starred as Baldrick in Blackadder, said: "Not many performers are given the privilege of featuring in two iconic TV series - but I've been lucky.
"Time Team was not only high-quality public service television, it also attracted a large and passionate audience both in the UK and overseas. I'm proud to have been associated with it."
Channel 4 commissioning editor for history Julia Harrington said the broadcaster is looking at new "entertaining and innovative ways" to bring the past to life.
New shows include a documentary about the hunt for the remains of Richard III called King in the Carpark: Richard III, and a new series titled People of Stonehenge.
Channel 4 head of factual Ralph Lee said: "I am incredibly proud that, as well as providing hundreds of hours of education and entertainment on Channel 4, Time Team has invested more than £4 million in archaeology in Britain."