The show, based on the popular book series of the same name written by L J Smith, is currently in its seventh season.
37-year-old Somerhalder, who plays Damon on the CW series, said the makers will do justice to the story before wrapping up the show, reported Aceshowbiz.
"We have decided to do one last season to really do the story justice," he said at Walker Stalker Con in Nashville on Sunday, April 10 as posted on the convention's official Twitter account.
Nothing is official yet though since The CW has not made a decision about the show's future beyond the upcoming eighth season.
Katerina Graham, who plays Bonnie Bennett since the first season, previously said that the show's season eight would be the last for her.
The series, also starring Paul Wesley and Candice King, premiered in 2009. Somerhalder's ex-girlfriend Nina Dobrev quit the show after the sixth season. She played the popular character of Elena Gilbert and her doppelganger Katherine Pierce.
