The British anchor took over from veteran reporter Larry King in 2011, but due to declining ratings, Morgan and network president Jeff Zucker have made the mutual decision to end Piers Morgan Live.
Morgan tells the New York Times, "It's been a painful period and lately we have taken a bath in the ratings... I think I can credibly do news and the ratings reflect that, but it is not really the show that I set out to do.
"I'd like to do work - interviews with big celebrities and powerful people - that is better suited to what I do well and fit with what Jeff is trying to do with the network."
Morgan adds that the last episode will "probably" air next month (Mar14).