
The 71-year-old was expected to attract up to 15 million listeners, most of which comprised his loyal following of TOGS - short for Terry's Old Gals/Geezers.
Wogan, who has been in the presenter's chair, on and off, for 27 years, admitted he was going to "indulge himself" with this morning's playlist, and proceeded by playing back-to -back classic crooners.
His song list included Cliff Bennett and the Rebel Rousers, Nat King Cole, Peter Gabriel, Paddy Maloney and the Black Dyke Mills Band, before ending with The Party's Over, by Anthony Newley with Ray Ellis and his orchestra.
Included among the many accolades and messages on his show was a farewell message from Prime Minister Gordon Brown.
In a recorded message, Brown said: "Terry, five decades at the very top of British broadcasting is a towering, indeed an unparalleled, achievement.
"From Wogan to Eurovision to Children In Need, you've shaped the popular imagination of generation after generation of British viewers and listeners."
The veteran broadcaster signed off at 9.30am with the words: "This is it, then, this is the day I have been dreading, the morning when you and I come to the parting of the ways, the last Wake Up To Wogan.
"It's always been a source of enormous pride to me that you have come together in my name, that you are proud to call yourself my listeners, that you think of me as a friend, someone that you are close enough to laugh with, to poke fun at and – just occasionally, when the world seemed just a little too cruel – to shed a tear with.
"The years together with you have not only been a pleasure but a privilege. You have allowed me to share your lives with you. When you tell me how important I have been in your lives, it's very moving. You have been every bit as important in mine... Thank you, thank you for being my friend."
In the last official figures, Wogan had an average weekly audience of 7.93m listeners in the second quarter of this year.
He hands over the Radio 2 breakfast show reins to DJ Chris Evans, but will return himself in February with a weekly Sunday morning show.
