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Less than a day after it was announced that Rosie Perez is leaving The View, the actress gave a tearful goodbye in front of her co-hosts and millions of viewers.

"You guys all heard [the news]. I've decided that it's time to move on and I will say that today is very bittersweet for me. I am excited for what is to come but I am so sad to leave The View, the staff, the producers, ABC and especially these two ladies," she said through her tears, pointing at Whoopi Goldberg and Nicolle Wallace.

"I want to thank you for your friendship, Nicolle, and your intelligence and your wit and your sunshine."

Perez continued, "Whoopi, I want to thank you for everything—your guidance, your professionalism and most of all your friendship. It's a dream sitting here with you and you're truly the captain of the ship."

Both Goldberg and Wallace wiped away tears during the emotional farewell speech, which left the audience equally as distraught by the news.

Yesterday, E! News confirmed that Perez was leaving the popular morning talk show after co-hosting for nearly 10 months.

"Rosie wants to thank ABC for their graciousness and their flexibility with her schedule during the Broadway run," a rep for Perez told us.

Meanwhile, the show's executive producer Bill Wolff said the following in a statement:

"Our friend Rosie Perez has decided to leave the show at the conclusion of this season to pursue full time her love for acting. Stepping into the role of talk show host at the same time she has been starring on Broadway has been incredibly impressive...Rosie will always be a part of The View family, and we will welcome her back as a guest anytime to catch up."