It's official! NBC has announced that JIMMY FALLON will take over for CONAN O'BRIEN on "Late Night" when Conan heads over to "The Tonight Show" to replace JAY LENO next year.

"It's a comedian's dream to get this job, to work with writers and try to be funny every night,'' says Fallon, jesting, "I hope to make it the best show and a great show to fall asleep during."

Jimmy joked that he'd like JUSTIN TIMBERLAKE to come be his sidekick on show, and remarked that in kindergarten he was voted most likely to take over for DAVID LETTERMAN. The news also means that the "Battle of the Jimmies" has begun -- Jimmy Fallon vs. late-night competition JIMMY KIMMEL on ABC!

The Brooklyn-born, former "Saturday Night Live" star remarked that he is pleased to be taping the show in New York, and also says he wants to integrate the Internet into the show for his young viewers.

No official start date has been announced for Jimmy's late-night debut, but reports speculate a June 2009 premiere.