The 59-year-old This Morning presenter - who is fully vaccinated - shared the results of his lateral flow test on social media on Monday night (31 January).
Schofield captioned the photograph of his positive test: "Well b******s!!"
Watch: What is a Rapid Lateral Flow Test?
He added: "Currently just a slight sore throat."
Schofield has been presenting This Morning with Humes for the past two weeks as Willoughby has taken a leave of absence to film new survival show Wim Hof’s Superstar Survival, featuring The Iceman.
Government guidelines for those who have tested positive with coronavirus now state that you can leave the house after five full days of self-isolation if you test negative on day five and say six.
The ITV skating show has already been hit with problems caused by coronavirus and injuries among the cast.
Happy Mondays star Bez was forced to miss week two of Dancing On Ice after he tested positive for COVID-19, although he was not due to skate that week.
Stevens made her skating debut on Sunday evening, but Olympic BMX rider Kye Whyte was absent after injuring his knee in training.
Last year's Dancing On Ice suffered a record number of celebrity drop-outs, with five celebrities forced to leave the cast over injury and testing positive for COVID, and a number of the pro skaters also injured.
Watch: Phillip Schofield react to competition winner who isn't impressed with £1k cash prize