The full statement from Phillip read:
You never know what's going on in someone's seemingly perfect life, what issues they are struggling with, or the state of their wellbeing - and so you won't know what has been consuming me for the last few years.
With the strength and support of my wife and daughters, I have been coming to terms with the fact that I am gay.
This is something that has caused many heart-breaking conversations at home. I have been married to Steph for nearly 27 years, and we have two beautiful grown-up daughters, Molly and Ruby.
My family have held me so close: they have tried to cheer me up, to smother me with kindness and love, despite their own confusion. Yet still I can't sleep and there have been some very dark moments.
My inner conflict contrasts with an outside world that has changed so very much for the better. Today, quite rightly, being gay is a reason to celebrate and be proud. Yes I am feeling pain and confusion, but that comes only from the hurt that I am causing my family.
Steph has been incredible - I love her so very much. She is the kindest soul I have ever met. My girls have been astonishing in their love, hugs, encouraging words of comfort.
Both mine and Steph's entire families have stunned me with their love, instant acceptance and support.
Of course they are worried about Steph, but I know they will scoop us both up.
My friends are the best, especially Holly, who has been so kind and wife - and who has hugged me as I sobbed on her shoulder.
At ITV, I couldn't hope to work with more wonderful, supportive teams.
Every day on This Morning, I sit in awe of those we meet who have been brave and open in confronting their truth - so not it's my turn to share mine.
This will probably all come as something as a surprise and I understand but only by facing this, by being honest, can I hope to find peace in my mind and a way forward.
Please be kind, especially to my family.
Speaking to his co-host and longtime friend Holly Willoughby live on This Morning, Phillip held back tears as he opened up about the "dark places" he has been trying to keep his secret.
"It's tough but this is not something that's happened quickly, I've had to deal this in my head for quite some time," he said.
"I got to the stage where I thought we sit here, every day, and some amazingly brave person is sitting over there and I'm thinking 'I have to be that person'.
"All you can be in your life is honest with yourself. I was getting to a stage in my life where I was thinking I don't really like myself because I'm not being honest with myself.
"We always say 'talk to someone' ... and you must talk to someone. It's brought me back from some dark places and in some cases talking to people saves you."
Reacting to the news Holly took to her Instagram to support him.
"Never been more proud of my friend than I am today," she said.