"I wanted you guys to be the first to know that FOX have confirmed that @TheXFactorUSA will be back next year for it's third season," Cowell, a producer and judge on the show, tweeted Monday.
He later issued a statement saying: "I couldn't be happier about 'The X Factor' already being renewed for another season. I am so proud of the show and the team who have made it this season. I want to thank our incredible sponsors for their support and creativity, and Fox for going out of their way to do everything they can to make this show a success."
2014: The Year in Music [PHOTOS]