Pete Davidson Leaving Saturday Night Live

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Pete Davidson's time on Saturday Night Live is coming to an end.

According to The Hollywood Reporter, the fan-favorite is set to announce his exit from the hit NBC series this weekend.

Davidson has been a popular figure during his eight seasons on the series.

Pete Davidson attends the premiere of Hulu's "Big Time Adolescence"

At the time of his casting, he was one of its youngest ever stars at the age of 20.

This weekend's episode is hosted by Natasha Lyonne (Russian Doll) and will feature Japanese Breakfast as the special musical guest.

It will also serve as the Season 47 finale and a defining installment of the hit show.

Pete Davidson at the “Big Time Adolescence” afterparty

Davidson has been a popular addition to the cast during his tenure, delivering widely-praised performances.

The star will remain a part of the NBC Universal family with an upcoming Peacock comedy, Bupkis, where he will star opposite Edie Falco.

The series is described as a "half-hour live-action comedy, is a heightened, fictionalized version of Pete Davidson’s real life."

The series will combine grounded storytelling with absurd elements from the unfiltered and completely original worldview for which Pete is well known.

Comedian Pete Davidson speaks onstage at The Comedy Central Roast of Justin Bieber

The project features Davidson as writer, star, and EP in the highly anticipated project, which reunites him with SNL's Lorne Michaels.

“Pete Davidson is one of the most sought-after comedians today with his smart, one-of-a-kind humor and honest point of view,” said Susan Rovner, Chairman, Entertainment Content, NBCUniversal Television and Streaming when the show was announced last month.

“Bupkis will showcase Pete’s funny, surprising and unfiltered brand of comedy audiences have come to love as we continue to bolster our Peacock comedy slate."

Pete Davidson attends the Gotham & Hamptons Magazines

"We can’t wait to dive in with Lorne Michaels, Broadway Video, and our partners at Universal Television.”

Davidson appeared at NBC Universal's upfronts presentation earlier this week, showcasing his strong relationship with the media conglomerate.

Despite joining SNL as a relative unknown, Davidson's popularity has increased as he racked up years of tenure.

He has worked on a string of projects away from the series, including the semi-autobiographical.

Comedian Pete Davidson attends The Comedy Central Roast of Justin Bieber

What are your thoughts on the shocker?

Do you think the show will be the same without Davidson?

Hit the comments below.

UPDATE: Kate McKinnon, Aidy Bryant, and Kyle Mooney are also leaving the series, according to Deadline.

Paul Dailly is the Associate Editor for TV Fanatic. Follow him on Twitter.

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