Yellowstone will officially come to an end after five seasons, with the final episodes launching in November, Paramount Network has announced.
The hit drama - which follows the Dutton family, who own the largest ranch in Montana - debuted in 2018 and has already had several spin-off shows including 1883.
The news comes as the show's leading man Kevin Costner became embroiled in a divorce battle with his wife Christine Baumgartner.
The fifth season began back in November, with the first half concluded in January. The second half of the latest season will mark the end of the show.
Chris McCarthy, president and CEO of Showtime and MTV Entertainment Studios confirmed the news in a statement, as he revealed a sequel is in the works.
"Yellowstone has been the cornerstone on which we have launched an entire universe of global hits — from 1883 to Tulsa King.
"I am confident our Yellowstone sequel will be another big hit, thanks to the brilliant creative mind of Taylor Sheridan and our incredible casts who bring these shows to life."
Details of the sequel are being kept tightly under wraps, though it had previously been reported that Matthew McConaughey was in talks for a new show featuring a number of Yellowstone characters.
David Glasser, CEO of 101 Studios, added: "The Dutton story continues, picking up where Yellowstone leaves off in another epic tale.
"We are thrilled to bring this new journey to audiences around the world."
Prior to the announcement, there had been reports of "friction" behind-the-scenes between star Kevin and showrunner Taylor Sheridan.
A source told The New York Post: "It's the same as with any showrunner and big star - there's respect, but there's friction".
Kevin was reportedly urged to quit Yellowstone by his wife to try and save their marriage, before she ultimately decided to file for divorce.
She filed for divorce from her husband on Monday, just six months after she reportedly told him to leave the TV show because his busy schedule was impacting their family.
Speaking about Kevin's hectic work schedule before the split, a friend of Christine's said: "It's really knocked a hole in their family life.
"The show is such a mega-hit, producers want it to go on forever! However, Christine wants her husband to hang up his cowboy hat, with an insider saying her patience is starting to fray."
Speaking to Radaronline, they added: "She wants a firm commitment this is his last season — or he might have to hit the dusty trail!"
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