Eric Braeden

The Young and the Restless is about get a happy ending.

Eric Braeden, the longtime star of the CBS soap, has agreed to take a pay cut and return to the show, TVGuide.com has confirmed.

Eric Braeden to leave Young and the Restless

The actor, 68, had been expected to leave the show following its Nov. 2 episode. Young and the Restless' entire cast and crew were asked to take pay cuts earlier this year, but Braeden refused to take the reduction and walked off the show's set in September.

Braeden's return, first reported by The Wrap, is even more shocking considering his recent comments to Entertainment Weekly that he had "pulled the plug" on recent contract negotiations.

It is not yet known when the actor, who has been with the soap since 1980, will officially return.