Meyers is currently the host of “Weekend Update,” a segment of “Saturday Night Live,” and head writer.

Meyer’s path parallels Fallon’s transition from “SNL” to the “Late Night” show.

This announcement also solidifies producer Lorne Michaels’ roles in producing NBC’s comedy assets including “SNL,” “Late Night” and “The Tonight Show.”

"I only have to work for Lorne for five more years before I pay him back for the time I totaled his car," said Meyers. “12:30 on NBC has long been incredible real estate. I hope I can do it justice."