"Hey everyone, with lots of reflection, I have decided to move on from @YandR_CBS at the end of my contract in December," Burton shared on Twitter. "I've had an amazing time, but it feels right to move on to new adventures in my life. I can't say enough about the AWESOME cast and crew. Much respect!"
After 21 years playing Jason Morgan on ABC's General Hospital, Burton shocked fans in August 2012 by announcing he was exiting the show to spend more time with his family. A few months later, the actor announced that he would reunite with then-newly appointed Y&R executive producer Jill Farren Phelps at Y&R. Phelps was released as Y&R's EP in June of this year.
During his time at Y&R, Burton has received two Daytime Emmy nominations, Outstanding Supporting Actor nods in 2014 and 2016.
As you might expect, all sorts of casting rumors have already started to pop up.
Y&R does not comment on casting or contract matters. However, Burton's co-stars have begun to share their reactions to the news on social media.
"Love you Steve!! You're a great guy and a great actor, we will miss you so," Melissa Claire Egan (Chelsea Lawson) wrote on Twitter with a swirling heart emoji.
What are your thoughts on Burton exiting Y&R? Do you think Dylan will -- or shoud -- be recast? We want to hear from you -- and there are many ways you can share your thoughts.