Degrassi will kick off a two-week finale on July 20 on MTV Canada, the channel announced along with U.S. channel TeenNick on Thursday.
The finale will feature 12 half-hour episodes.
"Thank you to Linda Schuyler and Stephen Stohn, and all the cast and crew at Epitome Pictures for delivering Bell Media with 14 years of creative and engaging content that truly captured the spirit of Canadian youth through truthful and provocative stories," Phil King, CTV president sports, and entertainment programming, said in a press release.
"We are immensely proud ofDegrassi, and our longstanding partnership with Linda and Stephen. We wish the entire Epitome team the best of luck, and look forward to working with them again in the future."
The award-winning Canadian series debuted in 2001 and has been running for 14 seasons. One of the show's co-creators, Schuyler, is a former teacher.
Critical acclaim for tackling tough issues
While cable channels have announced their Degrassi runs will be over, DHX Media (which owns Epitome Pictures) left the door open for possible developments.
"The Degrassi franchise is a perennial favourite, having been on the air for 35 years and broadcast in territories worldwide," the company said in an email to CBC News. "We expect to be able to provide an update on this award-winning series in the days ahead for fans, the media and the market. Stay tuned for further developments regarding Degrassi."
Degrassi, a fictional drama set in Toronto, follows a group of junior high and high school students as they face real-life challenges. The show received critical acclaim for tackling tough teen issues such as sex, date rape, homosexuality, drugs, and teen pregnancy.
Along with Drake, Degrassi has also propelled a number of other stars to fame, such as Vampire Diaries actor Nina Dobrev and 90210 actor Shanae Grimes.
The series has been nominated for three Emmy Awards, and has won 19 Gemini Awards, 10 Canadian Screen Awards, a Television Critics Association Award, the Peabody Award, and two Teen Choice Awards.