The Project is ending soon and Network 10 explained exactly what happened.

After almost 16 years, Network 10 has pulled the plug on The Project.

The network confirmed the news via a press release on Monday, sharing a major shake-up to its early evening lineup.

"As a result of the changes, The Project will air for the last time on Friday, June 27, ending an incredible run of almost 16 years and more than 4,500 episodes," Network 10 said in a statement.

During its time on air, The Project carved out a space for thought-provoking and sometimes controversial conversations on primetime TV — tackling topics like marriage equality, animal welfare, disability awareness, NDIS, and domestic and family violence.

"The show has successfully balanced humour and heart with poignant discussions about current affairs and celebrity interviews that had the whole country, and sometimes the world, talking," Network 10 said.

The statement said the current hosting team — Sarah Harris, Waleed Aly, Georgie Tunny, Hamish Macdonald, Sam Taunton, Susie Youssef and Rove McManus — has helped steer the program to an impressive 11 TV WEEK Logies and a Walkley award.

Over the years, other familiar faces like Carrie Bickmore, Charlie Pickering, Lisa Wilkinson and Kate Langbroek have also graced the desk.

But now, the show is preparing to sign off for good, as Channel 10 looks to embrace something new.

Network 10 says it's shifting focus to bring its free-to-air audience more of what they want to watch.

In The Project's place, a new national one-hour news, current affairs and insights program will air at 6pm six days a week, following the 5pm news bulletins. Deal or No Deal will also be moving to 7pm.

Current and former hosts have begun addressing the news, with Aly saying The Project "kicked down the doors of how news could be done".

Bickmore echoed this, adding, "absolutely, it did".

"Such sad news today," she continued.

"Regardless of how you felt about the show (everyone seemed to have very strong opinions about it both ways), it changed the way news was delivered and I am so proud of what the show and everyone involved in making it achieved.

"You've never met a more passionate, engaged bunch."

Harris also shared a reflection: "I've had a blast (but) it's time for me to take a breath and spend some more time with my boys."

"Keep an eye out for my OnlyFans page," she joked.

Craig Campbell, creative director of Roving Enterprises and creator of The Project, thanked the cast, crew and loyal viewers.

"We have an extraordinary team making this show every day and I know this news will hit them hard," he said. "It's been a privilege to work with them and the hundreds of others that joined us along the way."

He admitted he could never have predicted The Project would become such a key part of Australia's news cycle.

"We have launched campaigns, raised lifesaving cash for those that needed it, shone a light on people who deserved to be seen and hopefully made people smile and believe in the importance of a positive message," he said.

"The show has also been the prime-time destination for countless Australian actors and musicians, and I am proud we have been here as a showcase for the entertainment industry."

The Project will air its final episode on Friday, June 27.

Feature image: Network 10.