After a career in television news of over half a century, Barbara Walters announced on Monday her plans to retire as an on-air personality in 2014.

ABC News hinted on Sunday night about Walter's upcoming retirement, but Walters, 83, confirmed it today when she announced on 'The View' that the reports are indeed true.

"I have been on television continuously for over 50 years, but in the summer of 2014, a year from now, I plan to retire from appearing on television at all," she said. "It has been an absolutely joyful, rewarding, challenging, fascinating and occasionally bumpy ride. I'm perfectly healthy, this is my decision, I've been thinking about it for a long time, and this is what I want to do."

Before her retirement goes into effect next year, however, Walters will remain a co-host on 'The View," a show she helped to launch 17 years ago. She will also continue on as an anchor and reporter for ABC News. Additionally, even after retirement from the TV world Walters says she will remain behind-the-scenes at 'The View' as co-executive producer.

"There's only one Barbara Walters," ABC News President Ben Sherwood said in a statement. "And we look forward to making her final year on television as remarkable, path-breaking and news-making as Barbara herself."

Monday's audience on 'The View' was crammed with countless executives from ABC and ABC News who attended the show in support of Walters' announcement. Also in attendance was New York City Mayor Michael Bloomberg, a long-time friend of Walters.

"You made a difference in how journalism, particularly television journalism, is done today," Bloomberg said. "You didn't make enemies. You weren't nasty about it."

According to reports, while Walters may "come back" for special occasions, she has said that she is vacating the field for the next generation of journalists.

"I do not want to appear on another program or climb another mountain," Walters said. "I want instead to sit on a sunny field and admire the very gifted women - and OK, some men, too - who will be taking my place."

Born in Boston, Walters began her national broadcast career in 1961 as a writer and reporter for the 'Today' show on NBC. She was promoted to co-host of the show in 1974 but was wooed by ABC to come work for them in 1976. Once there, she began co-hosting the 'ABC Evening News,' went on to host 'The Barbara Walters Specials,' became co-host and correspondent for '20/20' for twenty-some years and eventually helped to create 'The View.'

"I've had an amazing career - beyond anything I could have imagined," Walters said. "And I hope I have inspired some other women both in front of and behind the camera."