NBC officially announced Monday, during a press conference, that Jimmy Fallon will be the new “Late Night” host, replacing Conan O’Brien who will take Jay Leno’s place on “The Tonight Show.”

“We just think this is a great idea, and we're thrilled and we didn't have to go far to find our new host. He is a hand-picked talent, part of the NBC family already, [he] created some of the most memorable characters in the history of ‘Saturday Night Live’ and [is] an incomparable host,” said NBC President Ben Silverman, as quoted by the New York Daily News.

As for Jay Leno, no one knows for sure, but Silverman acknowledged that these changes would lead to Leno’s departure.

The start date for Fallon is not yet set, but Late Night executive producer Lorne Michaels said that Fallon will probably begin in the first six months of 2009.

“I think when the transition happens it'll be as seamless as possible,” said Michaels, according to E! Online.

Michaels added that Mr. Fallon was qualified because of his likability, his sense of humor and the absence of some qualities that tend to undo other comedians.

“Two things tend to be in the DNA of comics — the need to top the other person, and a kind of ennui or depression. Jimmy doesn’t have those things,” said Michaels.

Fallon is also excited about his new job.

“It's a comedian's dream to get this job, to work with writers and try to be funny every night,” he said.

Fallon began as a standup comedian and in September 1998 he joined “Saturday Night Live.” After leaving the show in 2006, he starred in feature films such as “Taxi,” “Fever Pitch” and “Factory Girl.”