Many predicted when the former Fox News pundit was brought in that Kelly's tenure at NBC would end in disgrace.
Megyn's agreement with NBC will pay her the remainder of her $69 million contact and also does not include a non-compete clause, which means she is free to work elsewhere immediately.
All three roles quickly fell apart as Kelly struggled with attracting viewers and became embroiled in a number of controversies.
A US TV host who lost her chat show after suggesting it was OK for white people to wear blackface on Halloween has reached an exit deal with the network that employed her.
Kelly, who moved from Fox News in January 2017 after a headline-grabbing confrontation with Donald Trump during the presidential campaign, never quite clicked at her new network.
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Megyn Kelly and NBC have parted ways, nearly three months after the host was ousted from her perch as the host of the third hour of Today.
She will be replaced in the third hour of "Today" by anchors Craig Melvin, Al Roker, Dylan Dreyer and Sheinelle Jones, NBC said. Her remarks prompted an immediate outcry that led to Kelly's suspension and eventual removal from Today. At one point, she asked what costumes could be considered racist. "Truly, you do get in trouble if you are a white person who puts on blackface on Halloween or a black person who puts on whiteface for Halloween. Back when I was a kid, that was okay as long as you were dressing up as like a character".
Kelly gave a tearful apology on the show the next day.
Both Kelly's morning show and Sunday evening news program struggled to find viewers.
Megyn Kelly Today kicked off in mid-2017, though the show seemed to be doomed from the start.
The 9 a.m. hour, hosted by Kelly, shot up 10 percent in viewers the month after her exit, according to Nielsen numbers.