Less than a year after joining ABC's "The View," Rosie Perez has confirmed that she will no longer co-host the popular talk show starting in August.

On Wednesday, the 50-year-old actress gave a tearful announcement about her departure from the popular program, thanking her co-hosts, fans and the Latino community for their support.

"Well, you guys all heard it: I've decided that it's time to move on. And I will say that today is very bittersweet for me," said the "Do the Right Thing" movie star.

On Tuesday, People reported that the show's executive producer, Bill Wolff, told his staff Perez has "decided to leave the show at the conclusion of this season to pursue full time her love for acting."

"I'm excited for what is to come, but I am so sad to leave ... especially these two ladies," she continued, referring to her co-hosts Whoopi Goldberg and Nicolle Wallace.

Perez then turned to Wallace, who was crying, and said, "I want to thank you for your friendship, Nicolle, and your intelligence and your wit and your sunshine."

The Puerto Rican actress then turned to Goldberg, saying, "I want to thank for everything -- your guidance, your professionalism and most of all your friendship. It's a dream sitting here with you, and you are truly the captain of the ship."

Towards the end of her emotional speech, she expressed her gratitude to the Latino community for supporting her.

"I want to give a special thank you, to the Latin community," she said while the audience cheered. "It's a huge honor to be the first Latina on 'The View.' What the hell took you all so long?"

"But the ones that I want to thank the most are the fans," she continued. "It warms my heart. It really does. Every time one of you guys come up to me and say, 'I love you on 'The View,' it just makes my day."

She added that, "Your support as a community has really helped me through this year, and I will never forget what you've done for me."

After becoming a permanent co-host in September 2014, Perez will film her last show on Aug. 6. Comedian Michelle Collins, a regular guest host on the show, will then step up as a new permanent co-host, according to The Hollywood Reporter.

Watch Rosie Perez's exit annoucement below: