It’ll be a memorable last hurrah for James Roday and his Psych cast mates…

USA Network has formally announced that the current eighth season of the 37-year-old Mexican American actor’s cult favorite series will be its last, which the last episode airing on March 26.

Roday and his Psych co-star Dule Hill made the official announcement today via video posted on YouTube.

“Psych has made an indelible imprint on the television landscape, with a unique brand of comedy,” said Chris McCumber, president of USA Network. “The final season celebrates the iconic characters that have made this show so beloved, and will be an exclamation point on the series’ incredible run.”

“Psych is one of those rare projects that broke into the cultural mainstream,” added Jeff Wachtel, President and Chief Content Officer, NBCU Cable Entertainment. “Its wild energy, fearless fun and engaging characters delivered an unrivaled series that will continue to be loved by fans for as long as there are ways to watch TV.”

But Psych fans will get an extra-special goodbye via Psych After Show, a one-hour live show in front of a studio audience that will feature a Q&A with Roday and the cast, as well as show creator Steve Franks.

Produced by Wilshire Studios, the after-show will feature favorite clips, audience Q&A and never-before-seen footage.

The final five episodes of the current season will beg airing February 26, right after the 2014 Winter Olympics.