The president said that together, they had "solved a lot of problems".
Haley thanked the president, saying that the U.S.is finally "respected" on the world stage.
The role required her to represent the U.S. and protect the country's interests at meetings of the UN Security Council.
Haley said her resignation was simply about needing a break after six years as SC governor and two at the United Nations, and Trump said Haley even previewed a desire to leave as long as six months ago.
Haley's exit is due before the end of the year, which means she could be around for as many as 12 more weeks.
"It's been eight years of intense time, and I'm a believer in term limits. She's made it a more important - more importantly, a more important position".
Haley, who is not personally wealthy, hinted in her resignation letter to Trump that she is headed to the private sector.
Haley, the former governor of SC, was a critic of Trump's during the 2016 Republican primaries and endorsed his opponent Sen.
"No, I am not running in 2020", she said, adding she would campaign for Trump's reelection. "We appreciate the strong alliance with America and Ambassador Haley's steadfast support for the truth at the U.N.", Israel's U.N. ambassador Danny Danon told CBS News. "Rather, I will respectfully speak some hard truths".
"We're all happy for you, in one way", Trump said.
"Anyone that goes and tries to spew hate on someone because of their color or religion or their place in life - that's terribly wrong", she continued. Before Trump took over the party with his nationalist politics aimed at the GOP's white male base, Haley endorsed his primary opponent, Florida Sen.
In her disclosure, Haley reported she has a personal 30-year mortgage of between $250,000 and $500,000, and a line of credit of up to $500,000.