The show -- which has so far run for seven seasons on the network -- would be finishing after eight seasons, executive producers Julie Plec and Kevin Williamson announced at Comic-Con, the annual nerd-fest that is quickly becoming the forum to announce major pop-culture news.
In an emotional farewell video
, Plec and Williamson joined the cast to show their appreciation to their loyal fanbase.
In the almost-nine minute video, star Paul Wesley said that being cast in the show had "changed the trajectory of my life, to say the very least."
Williamson said the show originated during a dark time in his life.
"Someone had died and I was sort of in grief," he said. "My best friend Julie was like: 'you need to work again, you need to write again.' And this book came along -- 'The Vampire Diaries.'"
He went on to say there was a parallel in the book with his life because one of the characters, Elena, was also coping with a loss.
Other cast members also praised the show and its importance to shaping them as actors.
"The sun, the moon and stars aligned for me one day in March when I got the official call that I had been cast in this very special role," said Ian Somerhalder, who plays one of the two main male protagonists, Damon Salvatore.
In a statement, CW President Mark Pedowitz said, "'The Vampire Diaries' has meant so much to so many fans around the world, and has meant so much to all of us at the CW.
"I am a huge fan of the show myself, and I've seen every episode. So I am very happy that we can give Julie and Kevin the chance to finish their story the way they have envisioned, and to give viewers a fantastic conclusion to eight spectacular seasons."
And while fans contemplating the end of a whirlwind eight seasons might be enduring sleepless nights, Plec promises that the final season will be an epic ride.
The eighth and final season will be 16- episodes and will premiere October 21.