The actor, who plays Andy Carver in the show, announced he will be taking a seven-week break from the soap to pursue a new theatre project.
Oliver will be joining actor Les Dennis, his on-screen dad Michael Rodwell, who also announced a break at the end of last year. The two will star in a production of Alan Bleasdale's Down The Dock Road in Liverpool, from March 11 to April 9.
According to Digital Spy, Oliver will be away from the cobbles for seven weeks, but it is unknown how that will translate into his character's plotline.
Oliver originally joined Corrie as 'Gavin', the son of Les Dennis's character Michael Rodwell, but he was later found out to be a fraud when news that the real Gavin died of a heart attack made it to Weatherfield.
Oliver is the latest Coronation Street star to announce a break from the soap. Fans will be saying goodbye to Roy Cropper later this month after actor David Neilson announced he would be taking a 'three month break' to recharge.
Another fan favourite who recently announced an 'extended break' was actress Eileen Derbyshire, who plays Emily Bishop and is the longest serving female star in the show. After 50 years in the show, Eileen asked producers for a six month break.
Other cast stars leaving the show are Brooke Vincent, who's taking eight weeks off from playing Sophie Webster, and Carla Connor, who plays Alison King.
Oliver's absence, however short, is likely to be heavily felt by his largely female fanbase. The actor is often labelled as one of 'Corrie hunks', which he finds a bit embarrassing as he revealed in an interview with The Mirror in April last year.
'Being labelled a hunk is flattering but I get a bit embarrassed – I’m a bit bashful', Oliver said. 'With anything like this it is partly to do with looks but it is partly to do with your character, the way you treat people and the way you are, the way you behave in public.'
We'll definitely miss you Oliver!