There's been speculation for some time, but it's finally official:

After months of speculation, a slew of news stories, a ton of late-night jokes and a Jay Leno-Jimmy Fallon duet, NBC has set a date for Leno’s departure from The Tonight Show and officially anointed Fallon as the new host of the venerable late-night franchise. Leno will depart The Tonight Show in spring 2014 after 22 years, and he will be replaced by Fallon. The Tonight Show With Jimmy Fallon will be based in New York, where the show originated, and will be set at the 30 Rock studio that now houses Fallon’s Late Night, which is undergoing renovation that is slated to be completed in 2014 in time for the re-launch of The Tonight Show. The Tonight Show With Jimmy Fallon will be executive produced by Lorne Michaels, marking the first time the Saturday Night Live and Late Night executive producer has been in charge of NBC’s flagship late-night show.

The change will happen after the Winter Olympics in early 2014. Leno will go back to doing a traveling standup show in front of prescription drug-addled old Republicans until he finally turns to dust and blows away three hundred years hence. Leno agreed to this deal, which means he basically destroyed Conan O'Brien's career out of spite a couple years back. In a recent Slog poll about this transition, we successfully determined that Slog doesn't really give much of a shit either way.