Her last day co-hosting The View will be May 16, ABC announced Monday. To celebrate Walters' long list of achievements, the network will air a two-hour special highlighting her life and career that night.
Walters, who co-created created the morning talk show with Bill Geddie in August 1997, will continue to executive produce The View. The 84-year-old will continue to contribute to ABC News on occasion.
"In this business there are legends, there are icons, and then there is Barbara Walters," Robert A. Iger, chairman and chief executive of The Walt Disney Company tells E! News in a statement. "She's a dear friend and colleague as well as someone I deeply admire, and it's impossible to fully convey her impact and influence on television. She broke barriers, defied convention, made history and set the standard for journalistic excellence for more than 50 years. It's hard to imagine television without her."