This year's shows are the last in the current contract, signed in 2016.
However fans needn't worry as it's looking likely neither will be going anywhere any time soon.
Simon Cowell is reportedly in final talks with ITV to sign a new multi-million pound deal.
A source shared with the Daily Mirror newspaper: "There have been meetings recently between Simon’s producers and ITV executives to thrash out some of the details, but Simon is already planning how to build on the shows’ successes on ITV. Everyone is looking forward to the future.
“Whilst there may be some details in the paperwork still to be ironed out, from a fans’ point of view it is a three-year deal which means these much loved shows will remain on ITV for a long time to come.”
Simon last year spoke optimistically about the future of The X Factor despite viewing figures declining in recent series.
"We’ve just been offered an extension on both shows because of the 16 to 34-year-old audience," he told The Sun newspaper in an exclusive interview in 2018.
Simon explained: “We could probably do three years or five years. It makes a lot of money. We got to a point years ago where we were able to compete with Strictly because there was that huge audience.
“We’re losing people now but fortunately the young audience has actually grown this year and all the advertisers and the sponsors want that income on a Saturday.”
This year is set to see two special versions of The X Factor, one starring celebrities and an all stars version featuring past contestants.
Meanwhile, Simon recently revealed plans for two more music shows alongside new dance series The Greatest Dancer, which aired on BBC One earlier this year.
He teased: “We’ve got the new dance show on the BBC, and two other music shows, which I think will be announced soon and we’re going to do over the next two years as well.”