The secondary school-based drama will came to an end after its tenth season, which is filming now and will begin in the autumn.
Announcing the news on Twitter, the BBC promised the programme would "go out on a high".
"Series 10 of #WaterlooRoad will be the final series," the confirmation read. "We're incredibly proud of the show but believe it has reached the end of its lifecycle.
"We still have a further 20 episodes to look forward to before #WaterlooRoad finishes in 2015, and we'll be sending the show out on a high."
A new drama is expected to fill its 8pm slot when the show finally bows out.
Waterloo Road first appeared on screens in March 2006, and has won a number of awards in its eight year run, including Most Popular Drama at the 2012 National Television Awards.
Over the years, its cast has included the likes of Neil Morrissey, Denise Welch, Angela Griffin and Chelsee Healey.
The eighth series saw the school, and the show's production, relocate from Rochdale to Greenock as part of the BBC's plans to boost drama production skills in Scotland.
Donalda MacKinnon, head of programmes for BBC Scotland, said of the news, “It’s always sad when any long-running show comes to an end and I know the Waterloo Road team will miss Greenock – as will fans of the show.”