The ITV celebrity skating competition will air its ninth and final series next year, ITV confirmed in a statement.
ITV's Director of Television Peter Fincham said: "Dancing on Ice has been a firm favourite with viewers since it launched eight years ago and we all have every intention of going out on a high next year."
Jayne Torvill and Christopher Dean said: "Next year will be the 30th anniversary of 'Bolero' and our Olympic gold medal in Sarajevo and for us, it seemed a fitting time to say goodbye to Dancing on Ice.
"We wanted to go out on a high. We have loved every minute of the eight series and we're determined to make our final series the best ever. It has been a real pleasure to work on one of the UK's biggest and best loved entertainment shows, and we are extremely proud of the skating legacy that we have built up since the show launched in 2006.
"We will miss it hugely and would like to thank all the viewers and fans for their continued support."
Torvill and Dean added that they do not plan to retire from skating for good, and that the series will be followed by a final tour.
"We will not be retiring or hanging up our skates – skating will very definitely continue for us both," the duo added. "There will also be a final Dancing on Ice live UK arena tour, starting in March next year. We are already planning it and there will be some great surprises for audiences across the country."
Peter Fincham added: "Torvill and Dean are the most successful ice dancing partnership of our generation and brought huge integrity, skill and professionalism to the show and with their departure, it feels like the series has reached its natural end.
"It is always a difficult decision to say goodbye to successful and long-running shows, but with change comes opportunity and the chance for us to bring in new and exciting programmes for our viewers.
"ITV would like to thank Jayne and Chris for their fantastic contribution to each and every series."
Dancing On Ice's final series will air in January 2014.
'Dancing on Ice' 2013 final - photo gallery: