“If Sherri goes… I go too. #sisters,” McCarthy tweeted.
She then continued, “My View will be changing too. As will with many hard working folks. Thanks to everyone at the show for your dedication and an amazing year.”
The announcement arrived amid reports that McCarthy’s job was in danger and that her contract would not be renewed after just one season.
McCarthy replaced conservative host Elisabeth Hasselbeck, who moved over to Fox News to co-host their day-time panel show, “Fox & Friends,” last year.
News of McCarthy and Shepherd’s departures comes a month after longtime “View” personality Barbara Walters exited the series and amid reports that executive producer Bill Geddie, who has been with the series since it launched in 1997, may also be on the chopping block.
Neither Shepherd nor McCarthy specified when their stints on “The View” would end.
A former Playboy Playmate, McCarthy has come under fire for speaking out against childhood vaccinations.
“The View” suffered a minor ratings dip with McCarthy’s addition to the show. The series averaged a little over 3 million total viewers in the first three weeks of McCarthy’s tenure, compared to the 3.239 million that the show averaged in the first three weeks of the previous season. In the women 25-54 demographic, the show was also down slightly at that time, averaging a 1.2 compared to 1.3 for the first three weeks of the previous season.