Meyers co-anchored "Weekend Update" on the NBC sketch-comedy series for eight seasons and was joined for his farewell newscast by "SNL" alumni Amy Poehler, Andy Samberg, Bill Hader and Fred Armisen.
They told Meyers they had come to take him "to the other side."
Meyers called his "SNL" tenure "the job I always wanted." He joined the cast in 2001.
He'll take over at NBC's "Late Night" on Feb. 24.
"SNL" head writer Colin Jost will replace Meyers at the "Weekend Update" anchor desk alongside Cecily Strong. He signs on March 1.