O'Donnell will appear on "The View" on Friday, Feb. 7. It will be the first time she has returned to the show since she was a co-host from 2006 to 2007.
"I have great affection for Rose, and we have remained in contact through the years," said show creator Barbara Walters. "I am happy to welcome her back to the program. She is always a lively and engaging guest and a part of the show's successful history."
O'Donnell is currently a guest star on the ABC Family series "The Fosters." Her tenure on "The View" was notably stormy, and after leaving the show, she said she experienced something like post-traumatic stress disorder.
This is Walters' last season on "The View."
The Associated Press contributed to this report.