The network is set to introduce a brand new current affairs program later this month.

The Project's Sam Taunton, Waleed Aly, Sarah Harris and Georgie Tunny.

Channel 10 has announced that The Project has been axed. Photo: Channel 10

Following weeks of speculation, Channel 10 has finally confirmed that its long-running current affairs show The Project has been axed. The program, which first premiered in 2009 as The 7PM Project, will air its final show on Friday, June 27, after more than 4,500 episodes.

The Project has been the recipient of 11 Logie awards, including two public-voted Gold Logies for Waleed Aly and former host Carrie Bickmore, and a Walkley Award. It was a huge success among audiences following its debut and regularly exceeded over a million viewers, however, ratings have severely dwindled in recent years.

“The Project led the way with thought-provoking and unique conversations on primetime television covering a myriad of topics including marriage equality, animal welfare, disability awareness, NDIS, and domestic and family violence,” the network said in a statement.

“The show has successfully balanced humour and heart with poignant discussions about current affairs and celebrity interviews that had the whole country, and sometimes the world, talking.”

The Age has reported that The Project’s hosts Sarah Harris, Hamish Macdonald and Waleed Aly – who has been with the show since 2015 – will all leave Channel 10 following the final episode.

Meanwhile, comedian Sam Taunton is expected to continue making guest appearances across the network’s entertainment shows, and Georgie Tunny will appear on The Amazing Race with her partner Rob Mills later this year.

The Project's Dave Hughes, Charlie Pickering and Carrie Bickmore.

The Project first premiered in 2009 as The 7PM Project. Photo: Channel 10

Channel 10 announced on Monday that they will be introducing a “revised early evening program schedule” later this month, centred around a new national one-hour 6pm news, current affairs and insights program six days a week.

This will follow 10’s one-hour 5pm local news bulletins, while Deal or No Deal will move to the new time of 7pm.

“This reflects the successful growth in audiences to Network 10 local news bulletins and coverage. Our focus continues to be on serving our free-to-air audiences with more of the content they are increasingly watching,” they said.

It’s been reported that former Channel 7 journalists Denham Hitchcock and Amelia Brace will front the new show. Channel 10 is expected to officially announce the program, as well as its name and launch date, later this month.