The 50-year-old has hosted the show for a decade, taking over from Claudia Winkleman in 2011.
Ball announced her departure on her personal Instagram account, she wrote: “Dance lovers, after 10 joyous years I am waltzing away from It Takes Two.
'Time now for some new cha cha challenges'
“As a massive @bbcstrictly fan I have loved spending my Autumn teatimes with the celebrity dancers, the gorgeous & awesome pro dancers, the judges, my girl Vicky Gill, Rylan, Gethin & of course my main man Ian Waite.
“Time now for some new cha cha challenges. I will continue to support the Strictly family on the Breakfast Show & can’t wait to watch the Class Of 2021 from my sofa.”
Ball concluded her goodbye with: “I will miss you all immensely. As Iveta would say ‘Friends for the life’ xx.”
It is not currently known what her new “cha cha challenges” are, or who will replace her on the red sofa later this year. Her departure comes after presenter Rylan Clark joined the show in 2020.
'The most loyal, loving, caring friend'
Following her Instagram post, her co-star Ian Waite also announced he would be leaving the show.
The pair danced together when he was her professional dance partner on the 2005 series, she came in third place.
Waite thanked Ball for being “the most loyal, loving, caring friend one could wish to have,” he is leaving to focus on his dance fitness brand, FitSteps.
He wrote: “This journey would not have been possible without the one and only Zoe Ball who has been the most loyal, loving, caring friend one could wish to have. I will miss you the most but know that we will still see each other a lot in the future.”
Strictly stars took to social media to thank Ball for her time on the show, adding that they would miss her immensely.
'It won’t be the same without you!!'
Former Strictly pro Kevin Clifton wrote: "It Takes Two was always my favourite bit. I loved chatting and bein silly with u on the sofa. Thank you for being so kind , generous and supportive with all of us. You're the best."
Good Morning Britain newsreader Charlotte Hawkins, who appeared in the 2017 series of Strictly, said: “Oh it won’t be the same without you!!”
Joe Sugg, a finalist in series 2018, added: “Ah Zoe! You will be missed! You were a delight to work with and made my strictly experience that extra bit special thank you x.”
And Strictly professional Janette Manrara said: “Oh @zoetheball!! I looked forward to our chats on that couch more than any other part of the week! You really are a diamond of a human being and deserve all of the wonderful things that are coming your way! Although you’ll be missed, it’s not ‘goodbye’, it’s more of a ‘see ya around’! Love you!”