LOS ANGELES, CA - SEPTEMBER 22: TV personaity Stephen Colbert, winner of the Best Writing for a Variety Series Award and the Variety Series Award for 'The Colbert Report' poses in the press room during the 65th Annual Primetime Emmy Awards held at Nokia Theatre L.A. Live on September 22, 2013 in Los Angeles, California.
Goodbye Comedy Central, hello CBS.

Stephen Colbert has officially signed a five-year agreement to replace David Letterman on “The Late Show,” a switch that will take place when Dave steps down in 2015, according to “The Hollywood Reporter.”

"I never dreamed that I would follow in his footsteps, though everyone in late night follow's Dave's lead," he said (via "THR"). "I'm thrilled and grateful that CBS chose me. Now, if you'll excuse me, I have to go grind a gap in my front teeth."

The comedian has hosted “The Colbert Report” on Comedy Central since 2005, spinning off from Jon Stewart’s “The Daily Show” where he served as a correspondent.

On the show, Colbert plays a satirical news pundit, and it’s unclear which elements of the show or the character he will carry over.

Stewart gave his endorsement of his friend, telling Vulture, “He’s done an amazing job with just that very narrow cast of character, but he’s got a lot more he can show… He’s got a lot of the different capacities. Being able to expand upon [those] would be exciting.”

Letterman confirmed his departure just last week in a statement.

"We don't have the timetable for this precisely down -- I think it will be at least a year or so, but sometime in the not too distant future, 2015 for the love of God, in fact, Paul and I will be wrapping up," he told the crowd.

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