The shocking announcement came after weeks of rumours of a fallout between him and co-host Holly Willoughby with Schofield being the one to walk away from This Morning.
Schofield has suffered a tumultuous few weeks after his brother was convicted of child abuse in April with the presenter announcing he had disowned his sibling.
With Schofield's shock departure, speculation of course turns to who will be his permanent replacement. Dermot O'Leary is Friday's male host and is also stepping in for Schofield in the interim. Marvin Humes, Vernon Kay, Andi Peters and Craig Doyle are some of the show's other prominent relief presenters.
Read on to see who could be Phillip Schofield's permanent replacement on This Morning.
Hammond is the bookies favourite to take over from Schofield and is already one half of the Friday presenting team. She has previously presented This Morning alongside Willoughby when Schofield has been absent but if Hammond was picked for the role, her and Willoughby would become This Morning's first permanent all female presenting team since Twiggy and Coleen Nolan in 2001.
The former X Factor presenter only joined the This Morning team in 2021 but the star has already been a hit with viewers and fronts the Friday edition alongside Alison Hammond. He'd be a big name and a steady presence to replace Schofield and is known to be good friends with Willoughby.
After stepping down from Strictly Come Dancing: It Takes Two, many thought Rylan would be getting the Celebrity Big Brother hosting gig but that didn't happen. Now, Rylan has confirmed he will be taking a break from his Radio 2 show with some thinking he will be appearing more regularly on This Morning. He has appeared on and off on This Morning since 2014.
The former Saturdays singer transitioned to broadcasting in 2013 and was a main relief presenter on This Morning with her husband Marvin between 2013 and 2015. Since 2018, she has continued to be a regular relief presenter alongside other hosts and recently stood in for Willoughby when she was ill.
A surprise favourite with the bookmakers is current presenter of The Chase, Bradley Walsh. Recently announced to be co-hosting the BBC's reboot of Gladiators, there may not be room in Walsh's schedule to take up regular presenting duties on This Morning unless he stepped back from the much-loved quiz show that he's fronted since 2009.
The host of The Masked Singer is also in the running to replace Schofield according to Ladbrokes. He was a surprise choice to step in for Schofield earlier this year but was popular with viewers who enjoyed his chemistry with Willoughby. Dommett was also recently announced to be fronting a reboot of Survivor.
The former Big Brother winner has appeared on This Morning in one form or another since 2019. She initially started off as the competition announcer but has since graduated to presenter, filling in for Willoughby when she is sick or on holliday. Gibson was recently the show's main presenter during the two week Easter break.
Mulhern has an extensive history with Willoughby having presented Holly and Stephen's Saturday Showdown from 2004 to 2006. An ITV veteran, Mulhern has previously stepped in for Schofield on Dancing on Ice when he was struck down by Covid. With a litany of other projects, including a revival of Deal or No Deal, scheduling may prevent Mulhern from taking a permanent seat on the This Morning sofa.
Peters is a recognisable face to ITV's breakfast viewers as he looks after the competition segment on Good Morning Britain and served as a This Morning relief presenter over the Christmas period. He was also trusted to step in for Lorraine when she was on her summer break making him one of just two men to host the show in the last decade.
The JLS singer has been a popular presenter since he was trusted with co-hosting The Voice UK alongside Emma Willis in 2014. He has also been a regular stand-in on This Morning, often alongside his wife Rochelle and also fronted an all male special edition of Loose Women. Despite his history with the show, Humes is at slightly long odds compared to other contenders.