The news was also confirmed in a staff memo sent out by the show's executive producers this morning.
"What you don't know about us, these ladies, we're friends," Bila said. "Sunny's texts, Sara, Whoopi, you're my inspiration. Joy, when I need comedic relief, this is where I go. So we're going to be friends no matter what."
Bila, 38, who said to "stay tuned" for new opportunities on her horizon, including a book she's writing, thanked the show's fans.
"We are nothing without you," she said. "We are able to do what we do because you invite us into our homes ... You care enough about what we have to say, and that means more to me than ... any position I could hold."
Senior executive producer Hilary Estey McLoughlin and executive producers Brian Teta and Candi Carter praised Bila in a note to their staff, calling her "a spirited voice at the table," and added that she "will always be part of 'The View' family."
"We'll continue to welcome her back to talk about her new projects," they wrote.