But the presenting duo's working relationship began with celebrity skating contest Dancing On Ice, which they first teamed up to host on ITV in 2006.
When is Dancing On Ice due back on air?
The 16th series of the TV talent show is due to air in January 2024, and is not yet in production.
A spokesperson for the show has said it would be making “further announcements” about the show, along with Schofield's involvement “in due course”.
When the former CBBC Broom Cupboard presenter and West End star announced his departure from This Morning, he confirmed he will next appear on ITV hosting The British Soap Awards on Saturday, 3 June, 2023.
Has anyone else hosted Dancing On Ice?
Willoughby, 42, was joined by her old CITV colleague Stephen Mulhern, who stood in to replace Schofield on the live show.
But when Willoughby contracted coronavirus a month later, Schofield hosted the semi-final of Dancing On Ice 2022 alone.
Willoughby and Mulhern co-presented Stephen and Holly's Saturday Showdown on Saturday morning's on ITV from 2004 to 2006.
Mulhern, 46, is well known to ITV viewers for hosting gameshows including Catchphrase, In For A Penny and Deal Or No Deal.
Willoughby took time away from Dancing On Ice for three years between 2012 and 2014 and was replaced with Christine Bleakley. The youngest of Willoughby's three children were born in 2011 and 2014.
The show then took a hiatus before it was revived with Willoughby and Schofield back together as the faces of the series in 2018.
Watch: Stephen Mulhern replaced Phillip Schofield on Dancing On Ice when he had COVID