In a post on the Breitbart website, the conservative news outlet announced Bannon would assist the organization on "a smooth and orderly transition."
Bannon has served as executive chair of Breitbart News LLC, the parent company of Breitbart News, since founder Andrew Breitbart's death in March 2012.
According to Breitbart CEO Larry Solov, "Steve is a valued part of our legacy, and we will always be grateful for his contributions, and what he has helped us to accomplish."
ABC News has reached out to the White House for comment.
Stay with ABC7 News for the latest details on this developing story.