The pair said in a shared statement on social media that they "were always going to leave together" and that "now feels like the right time."
Sharing the announcement, the pair said: "We have loved working as a duo and hosting Strictly has been an absolute dream.
"We were always going to leave together and now feels like the right time.
"We will have the greatest rest of this amazing series and we just want to say an enormous thank you to the BBC and to every single person who works on the show. They're the most brilliant team and we'll miss them every day.
"We will cry when we say the last "keep dancing" but we will continue to say it to each other. Just possibly in tracksuit bottoms at home while holding some pizza.
"Tess & Claud".
A full statement has been shared on Tess Daly's Instagram account where she has also added some photos with Claudia and moments from her time on the iconic BBC show.
It reads: "After 21 unforgettable years, the time has come to say goodbye to Strictly Come Dancing.
"It's hard to put into words what this show has meant to me, so here goes...
Strictly has been more than just a television programme. It's felt like having a third child, a second family, and a huge part of my life since that very first show back in 2004. I knew then it was something special, but I could never have imagined the magic it would bring.
"Strictly has always been about joy, celebration, and bringing people together -- and I'm so proud to have played a small part in something that continues to mean so much to so many.
"From that very first series, I had the great honour of standing alongside the incomparable Sir Bruce Forsyth. Brucie set the tone for everything that Strictly became: warmth, wit, connection, and pure showbiz magic.
"I have always been in awe of our superbly talented professional dancers, our magnificent judges, and all the celebrities who have taken part. I absolutely adore our brilliant crew -- every single member of the Strictly team who have worked so tirelessly to make this show what it is.
"You are the very best in the business - the kindest, most fun, most loyal, and definitely the hardest-working team in television.
"Thank you for the laughter, the friendship, and the countless memories over all these years. You've filled my heart in ways I'll never forget. I'll miss you all so much.
And to you -- the viewers at home -- the biggest thank you of all. Thank you for welcoming us into your homes for over two decades.
"Your love, loyalty, and unwavering support have meant the world. You've carried us through every series, and that has never, ever been taken for granted. You are the heart of this show, and I feel so lucky to have shared it with you. Being part of your weekend from September to Christmas for the past 21 years has been one of the greatest joys and privileges of my career.
"To my beloved Claud - what an absolute joy and pleasure it has been sharing this adventure with you. You're one of a kind, and I'll treasure every giggle, every live show, and every backstage moment we've shared. I'm so grateful to have you as my friend for life.
"This isn't a goodbye to glitter, sequins, or Saturday night sparkle (I could never say goodbye to those!). Strictly will forever hold a special place in my heart - but it does feel like the right time to hand over the reins.
"With all my love and endless gratitude, Tess x".
Daly began presenting the show 21 years ago when it started with her then co-star the late Bruce Forsyth.
Claudia, who also presents The Traitors, shared a full statement announcing her deaprture from the show too, saying: "It's very difficult to put into words exactly what Strictly has meant to me. It's been the greatest relationship of my career.
"From working on It Takes Two in 2004 until now it has been my everything, the show I will be eternally grateful for. I will never forget Len Goodman trying to teach me what a cucaracha is (I still don't know) and the complete thrill and honour it was to work with Tess on the results show to cohosting on Saturday nights.
"Strictly is a magical, glittery, fake tanned train and it's been a privilege to be a tiny part of it. The extraordinary talent of the dancers, the band, the hair and makeup and costume teams, the unbelievable production crew and creatives - all utterly amazing.
"I've always believed it's best to leave a party before you're fully ready to go and I know the new hosts will be magnificent, I look forward to watching them take Strictly to new heights. As for Tess - I'm so so lucky I got to stand next to you. You're funny, kind, whip smart and a true friend and I love you."