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Laura, 37, took to social media to tell followers that she would not be hosting the next season of the show, which is set to take place in South Africa in January 2023.
Laura first took on the role of host as a temporary position for the first ever season of the winter version of Love Island in January 2020, after usual presenter Caroline Flack had been facing legal issues.
Sadly, while the series was still ongoing, Caroline died by suicide in February 2020.
Explaining that she hoped she had 'done Caroline proud', Laura wrote: "Some news! I won’t be hosting the next series of Love island.
"There are certain elements of the show I’ve found very difficult that cannot be changed some due to the format, including the flying back and forth to South Africa along with my new conflicting projects. I wish it was still possible but know you’ll be in safe hands.
"I was only planning to fill in for Caroline for a series and it turned into 3 series. I hope I did you proud Caroline."
Ever since Laura announced the news, fans of the show have been wondering who will take over in January.
While no-one knows who will be replacing Laura yet, MyBettingSites has revealed the favourite contenders, with Emily Atack and Maura Higgins joint favourites, with odds of 5/1.
Other contenders are Maya Jama, with odds of 7/1 and this year's winner, Ekin-Su Cülcüloğlu, with odds of 9/1.
You can find the full list of faves below:
Many fans are already adamant they know who they want to takeover, with fans taking to social media and calling for either Maura or Ekin-Su.
One person wrote: "WE WANT EKIN SU TO HOST!!"
And another said: "Omg wait having ekin su be the new host of #loveisland would be so iconic."
Meanwhile a third wrote: "This is my petition for Maura Higgins to take over as the new love island host."
Who do you think will take over?