On GH, A.J. is currently in critical condition after being shot in the chest. Kanan will continue working at GH through March 28, and be seen on the show for few weeks after that.
He reports to B&B mid-April, with his return episode scheduled to air June 13.
Kanan tells TV Guide Magazine his exit from GH was by mutual decision.
"I was utterly thrilled to be brought back to GH for the 50th anniversary and really enjoyed working with [executive producer] Frank Valentini, but I was not over the moon about the writing," Kanan said. "Doing stories about panic attacks and relish was not what I thought I'd signed up for. I feel I brought everything I could to the character yet it was obvious they weren't going to give me a great love story, which I found very disappointing."
GH head writer Ron Carlivati responded on Twitter: "His comments are like school in the summertime. No class."
"Deacon is my favorite of all the characters I've played," Kanan added.
Billy Warlock, who played A.J. on GH from 1997-2003 and again in 2005, reacted to the news that Kanan is leaving the role in a series of tweets. He wrote, "I must say if it's true about SK I am truly bummed. Not just for him but for AJ as well. SK was a great AJ! Go B&B. Believe when I say I'm not lobbying. It's just how I feel. That character has never been given a fair shake."
Kanan will be a presenter at the upcoming 5th Annual Indie Series Awards on April 2nd at the El Portal Theatre in North Hollywood.