Oprah Winfrey holding back tears as she announced her departure from her popular daytime talk show 'The Oprah Winfrey Show' on Friday (November 20) (Photo: Harpo)

She's talked about it in the past, but it looks like Oprah Winfrey's popular daytime talk show will finally close its curtains in 2011.

News outlets began to report the news on Wednesday, but Winfrey made the official announcement during her Friday (November 20) show, holding back tears as she explained when and why.

"I love this show. This show has been my life," she said, as she held back tears "And I love it enough to know when it's time to say goodbye. 25 years feels right in my bones, and it feels right in my spirit. It's the perfect number, the exact right time."

Winfrey said she'll continue out this season, and through late 2011, when her show finally comes to a close in its 25th season.

According to reports, the show's end has network affiliates scrambling to replace her time slot, which drew millions of viewers each day and went on to become the most successful daytime talk show in TV history.

In addition to bringing TV networks viewers, it earned Oprah a huge fortune, estimated at around $2.7 billion, amassed over the course of 25 years.

When she first started, her biggest competitor was Phil Donahue, but she slowly chipped away at his dominance. In the beginning, Oprah tried her hand at a tabloid format, but over time, reinvented the show's focus to themes of inspiration, hope and the power of positive thinking.

Oprah's show made her one of the most powerful women in entertainment. For celebrities, musicians, or even authors, an appearance on "The Oprah Winfrey Show" could help make you, or break you.

During Friday's announcement, she cautioned viewers that they would hear "a lot of speculation in the press about why I am making this decision," warning them not to listen to the "conjecture."

While she gave no specifics about her decision, she said her final two years would consist of the best shows possible.

"I just wanted to say whether you've been here with me from the beginning or you came on board last week, I want you all to know that my relationship with you is one that I hold very dear," Oprah said. "Your trust in me, the sharing of your precious time every day with me has brought me the greatest joy I have ever known."

Some speculate that Oprah will start a new talk show on OWN: The Oprah Winfrey Network, a joint venture with Discovery Communications Inc. that was first announced last year. It will replace the Discovery Health Channel and debut in some 80 million homes.

OWN is set to launch in January 2011.