The TV presenter made an emotional statement on Instagram announcing that he was ‘coming to terms with the fact' that he was gay.
Schofield had been married to his wife Steph for 27 years and has two daughters.
His co-presenter on the ITV show, Willoughby said: ‘I know that is something you have been living with, that inner conflict, for a long time.’
Willoughby offered words of support saying she would be by his side ‘for ever and ever’.
She also posted on Instagram following the news that Schofield had come out as gay.
Willoughby shared a photo of the two of them together and wrote: ‘Never been more proud of my friend than I am today.’
In his statement, Schofield wrote: ‘You never know what's going on in someone's seemingly perfect life, what issues they are struggling with, or the state of their well-being - and so you won't know what has been consuming me for the last few years.
‘With the strength and support of my wife and my daughters, I have been coming to terms with the fact that I am gay.
‘This is something that has caused many heart-breaking conversations at home. I have been married to Steph for nearly 27 years, and we have two beautiful grown-up daughters, Molly and Ruby.
‘My family have held me so close: they have tried to cheer me up, to smother me with kindness and love, despite their own confusion, Yet still I can't sleep and there have been some very dark moments.’
He added: ‘Every day on This Morning, I sit in awe of those we meet who have been brave and open in confronting their truth - so now it's my turn to share mine.
‘This will probably all come as something of a surprise and I understand, but only by facing this, by being honest, can I hope to find peace in my mind and a way forward.’