"This was a simple decision," the lifestyle anchor told The Hollywood Reporter. "You know you're in the right job when getting up at 4 a.m. is a joy... I love what I do, and I adore the people I work with."
"I am thrilled to be on this team and look forward to many more years," Spencer continued.
Senior vice-president Jeffrey Schneider said the team "couldn't be happier" with Spencer's decision.
"Lara is a uniquely gifted anchor at the top of her game," Schneider lauded. "She brings so much energy, fun and smarts to every single broadcast. She is beloved by our viewers with good reason."
Spencer has been with the show since 2011. Good Morning America weather anchor Sam Champion departed in December, but fellow anchor Robin Roberts has also decided to stay. Josh Elliott has one month left on his ABC contract and is considering an offer from NBC Sports.
[The Hollywood Reporter]