The archaelogy series, hosted by Tony Robinson, which has been running since 1994, will bow out with a final series next year.
A number of specials have been planned, to air in early 2014. Classic episodes will continue to be shown on Channel 4 and More4.
Blackadder star Robinson said: “Not many performers are given the privilege of featuring in two iconic TV series – but I’ve been lucky.
“Time Team was not only high-quality public service television, it also attracted a large and passionate audience both in the UK and overseas. I’m proud to have been associated with it.”
Channel 4 head of factual Ralph Lee said: “I am incredibly proud that, as well as providing hundreds of hours of education and entertainment on Channel 4, Time Team has invested more than £4 million in archaeology in Britain.”