McCarthy, who has already made 17 appearances on the show, begins on the first day of the 17th season, Monday, September 9th.
Her announcement follows the exit of Elisabeth Hasselbeck and the impending departure of Joy Behar and the retirement of Barbara Walters.
“Jenny will be a great addition to the show as we usher in an exciting new chapter for The View,” said Walters in a statement.
McCarthy rose to fame as a co-host on the MTV game show Singled Out and had been working on a late-night VH-1 talk show, The Jenny McCarthy Show, but was released by cable network Viacom.
Until recently The View was airing on Nine, but no longer has an Australian broadcaster.