The top presenters, who have hosted Seven Sharp for four years, were tearful as they gave thanks for their time on the show.
Both Toni and Hosking had the same reason for leaving - their families.
Toni's voice broke as she thanked Hosking for his support, particularly when she was unwell.
"Your backing of me has been fantastic this year, so thank-you," she said.
"Especially when I was sick, thank-you for always being there."
Hosking also shed a tear when talking about his family.
"Most importantly for me, I get to home," he said through tears.
"And spend more time with my family, and that's what counts."
There is already talk about who will be next in line to host the show. The announcement is expected to release in January.
Toni will be taking up new presenting opportunities with TVNZ in the new year.
Mike will continue to host breakfast radio on Newstalk ZB.
We're sad to see you go, Toni and Mike!