Called a "comic geniuses" by his bosses at Comedy Central, the 52-year-old, who made his silver-screen directorial debut with Rosewater -- a film based on an Iranian-Canadian journalist's nightmare in a Tehran jail, has worked for Comedy Central for over 16 years.
"His comedic brilliance is second to none," said a statement on the channel's Twitter feed.
https://twitter.com/ComedyCentral/status/565296357792284676
The Daily Show, which airs four nights a week in the United States, offers Stewart's trademark sideways take on the news. The show has been running to acclaim since 1999.
"Jon has been at the heart of Comedy Central, championing and nurturing the best talent in the industry, in front of and behind the camera," said the channel.
It added: "Through his unique voice and vision, The Daily Show has become a cultural touchstone for millions of fans and an unparallelled platform for political comedy that will endure for years to come.
"Jon will remain at the helm of The Daily Show until later this year. He is a comic genius, generous with his time and talent, and will always be a part of the Comedy Central family."
The statement gave no indication of what Stewart plans to do after leaving the show or who will replace him.
In 2011, Nielson data showed that every episode of Stewart's show was watched by 2.3 million people -- mostly in the 25-54 bracket, a rating higher than some of the major news networks, particularly Fox News. A 2012 study found that people who watched The Daily Show were better informed than people who watched Fox News.
Stewart is leaving #TheDailyShow, here's his audience by ideological placement @pewresearch http://t.co/Jo9AK8QrFb pic.twitter.com/5qvTUwpGHW
— Monica Anderson (@MonicaRAnders) February 11, 2015
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