Glen Beck Courtesy of Creative Commons

The decision comes amidst a year-long rating slide for Beck's show, and series of advertising boycotts in response to the host's outspoken and dramatically intoned conservative views.

“I truly believe that America owes a lot to [Fox News CEO] Roger Ailes and FOX News," Beck said in a release. "I cannot repay Roger for the lessons I’ve learned and will continue to learn from him and I look forward to starting this new phase of our partnership."

When he first appeared on the network in early 2009, not long before Barack Obama's inauguration, Beck was a little-known figure. But his unique presentation--often appearing in front of a chalkboard as a self-styled political pedagogue--and his distain for the left-wing, initially struck a chord with audiences. Almost immediately, ratings in his afternoon slot doubled and he became one of the most viewed cable news personalities.

His apex in popularity may have come in August 2010 when he lead a faith-based rally in Washington D.C. that brought thousands out to the National Mall. Beck was also an early proponent of the tea party movement, which fought back against taxation and government spending.

Beck courted a fair-share of controversy  as well, notably last summer when he said that Obama had "a deep-seated hatred for white people."

There has been a sharp decline in Beck's viewership--down from 2.7 million last year to 2.0 currently. Despite this drop it remains one of the highest rated shows on cable news.

But the constant threat of companies pulling their advertising from Fox News because of Beck's controversial views has made him a financial liability.

Business Insider theorizes that his unwillingness to be managed by Fox News public relations staff also contributed to the decision.

No date for Beck's last program has been announced. His production company, Mercury Radio Arts, still has a relationship with Fox News and may produce future programs for the network.

Reach Tom Dotan here