The actress, who has already filmed her final scenes, says she’s happy to be leaving the soap ‘on a high’.
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Although producers are keeping schtum about how Betty will leave the village, they have said she will get the send-off she deserves.
Speaking after filming her final episode, Paula told ITV: "I have been at Emmerdale for 21 years and I've loved every moment.
“Today is both the saddest and the happiest day of my life. Happy because I've got everyone here with me, but the sad part is I'm leaving.
“But there is a great atmosphere and it is nice to go out on a high."
The 85-year-old actress made her ‘Emmerdale’ debut as Betty in 1994, making her the longest-running current female character on the soap.
Series producer Kate Oates said that Paula had created a soap icon in Betty.
"It's impossible to overstate how much everyone at Emmerdale will miss Paula,” she said. “In Betty, she's created a British television icon: someone who has lit up our screens and touched our hearts.
"Off screen, she is an integral part of the Emmerdale family: an inspiration to those she works with, as well as a fabulous raconteur and hilarious storyteller. We are sad to lose her from the programme, but wish her the happy retirement she so deserves."