The show announced Friday it will commemorate its 35th anniversary Jan. 26, and then stage its final performance on Broadway on Feb. 18.
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Mayor Eric Adams attended the show earlier this month, kicking off Broadway Week with an appearance to celebrate the theater district's resilience in the wake of the pandemic.
Phantom has been the longest-running show in Broadway history for well over a decade.
On Broadway alone, the musical has played more than 13,500 performances to 19.5 million people at The Majestic Theatre on West 44th Street.
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The show says it has been the largest single generator of income and jobs in Broadway and U.S. theatrical history. In the New York production alone, an estimated 6,500 people, including 400 actors, have been employed during its more than three decades run.
A spokesperson said other international productions will continue, including the flagship London production, which will celebrate its 36th anniversary on Oct. 9 and continues to play with no end in sight.
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