The 59-year-old This Morning presenter has been replaced by Alison Hammond on the ITV daytime show after sharing the results of his lateral flow test on social media on Monday night (31 January).
Schofield - who is fully vaccinated - appeared via video-link on This Morning to give Hammond and co-host Rochelle Humes an update on his condition.
He said: "I'm fine. I haven't even got a sore throat now. I've sneezed twice, and that's it! I've got a slight temperature.
Get well soon, Phillip! In the meantime, the lovely Alison is joining Rochelle on today's show 🤩 pic.twitter.com/R7Qn75casK
— This Morning (@thismorning) February 1, 2022
"This is not what I expected, I've got to say."
But the Dancing On Ice presenter admitted he is worried about whether he will be able to host the skating show on Sunday night.
He said: "I'm disappointed I'm not there and we're a little bit worried about Dancing On Ice because I'm cutting it a bit fine for Dancing On Ice on Sunday."
Schofield admitted he was disappointed to be missing the Chinese New Year celebrations on the show, along with Gok Wan's celebratory Chinese dumplings.
And he joked that he didn't think viewers would miss him as he believed Hammond and Humes would make such a great presenting duo.
He said: "Twitter is now going to be alight with people saying 'Thank God he's off they're much better!'"
Schofield has been presenting This Morning with Humes for the past two weeks as Holly Willoughby has taken a leave of absence to film new survival show Wim Hof’s Superstar Survival, featuring The Iceman.
When Josie Gibson filled in for Willoughby when she called in sick last November, the former Big Brother winner proved a huge hit with viewers.
Government guidelines for those who have tested positive with coronavirus now state that you can leave the house after five full day of self-isolation if you test negative on day five and say six.
Schofield previously shared a photograph of his positive test on Instagram captioned: "Well b******s!!"
He added: "Currently just a slight sore throat."
Watch: Phillip Schofield react to competition winner who isn't impressed with £1k cash prize