Drew Carey is replacing long-time host Bob Barker on the popular U.S. daytime TV show The Price Is Right.

The deal was set July 23, shortly before Carey confirmed it on Late Night With David Letterman.

"I realize what a big responsibility this is," said Carey. "It's only a game show, but it's the longest-running game show in American television and I plan to keep it that way."

The original edition of the show ran from 1956 to 1965 on U.S. television. An updated version premiered in 1972, with Bob Barker hosting.

The 83-year-old Barker announced his retirement last October, and made his final hosting appearance on June 15. The show is currently in reruns.

The 49-year-old comedian will open the show's 36th season this autumn, while also hosting a new prime-time game show, The Power Of 10.