Hosting the late-night show has been a wonderful job, Leno said last week, but this is the right time to leave.
The 63-year-old Leno said he plans to continue playing comedy clubs, indulging his passion for cars and doing such TV work as comes his way. He doesn't plan to host another-late show, he said.
Fallon starts his "Tonight Show" on Feb. 17, with NBC hoping he rides the promotional wave of its Winter Olympics coverage the next two weeks.