"He's such a good friend that we're enemies right now," Fallon joked, "He's going to do so great. I so looking forward to the competition."
Check out the video above to see Jimmy Fallon's love for Stephen Colbert.
The bromance continued inside the award show when Colbert accepted the award for Best Variety Series on behalf of The Colbert Report. A shy Colbert channeled his feelings through pal Jimmy Fallon, see it below!