It's official - Stephen Colbert will replace David Letterman as host of the "Late Show."

The charismatic comedian has signed a five-year agreement with CBS and will step into Letterman's shoes when he retires.

Stephen Colbert -- host, writer and executive producer of "The Colbert Report" - has also made a splash on the political scene.

Whether testifying on Capitol Hill, attending dinner at the White House with French President Francois Hollande…

Or performing for the "Rally to restore sanity and/or fear" prior to the 2010 congressional elections.

He was named one of Time's most influential people in 2006 and 2012.

Certainly with his new "Late Show" gig, his influence on the airwaves can only grow.

Colbert's start date will be announced after Letterman determines a timetable for his final broadcasts.