The singer confirmed during an appearance on ITV's This Morning on Wednesday (4 September) that the cameras will stop rolling after the next series.
Peter explained one of the reasons for that is because his pregnant girlfriend Emily MacDonagh is not in the public eye and doesn't necessarily want her private life documented.
"Maybe she's mentioned that a couple of times," he said. "There is that because I am with someone who is a lot more private and even though I am public and I could never ask for privacy here and there - that's wrong, you can't when you're in this industry - you have to also respect the other person.
"But it's not just that, I do honestly think that we've done it and the public have been amazing, and I would hate it for the ratings to start slipping and then I have to stop."
'Mysterious Girl' star Peter said he wanted the tenth series to "go out on a high" and that he wanted to "bow out gracefully".
Not that Peter won't have a shortage of things to do! He's the new face of 60 Minute Makeover, he has his music career and a string of other ventures including his new perfume.
And, of course, a new baby on the way!
Peter confirmed in July that trainee doctor Emily is pregnant with his third child. A rep said at the time that he is "over the moon".
The star is already dad to son Junior, eight, and daughter Princess, six, from his relationship with ex-wife Katie Price.
The fifth and final series of My Life airs this month on ITV2.
Peter and Emily's romance in pictures: