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UNIVERSAL CITY, Calif. -- Jay Leno, longtime host of NBC's "The Tonight Show with Jay Leno," announced today that he will wrap up what will be 22 years of headlining the late-night show in Spring 2014. NBC also announced today that Jimmy Fallon, now host of NBC's "Late Night with Jimmy Fallon," will transition into new hosting duties on "The Tonight Show" franchise after Leno concludes his successful run.

As part of the transition, "The Tonight Show" will be returning to its original home in 30 Rock in New York and will be executive-produced by Emmy Award winner Lorne Michaels ("Saturday Night Live," "30 Rock").

Programming plans for the 12:35 a.m. (ET) time period currently are in development and will be announced soon.

"Congratulations Jimmy. I hope you're as lucky as me and hold on to the job until you're the old guy. If you need me, I'll be at the garage," said Leno.

"I'm really excited to host a show that starts today instead of tomorrow," said Fallon.