Shields, 54, appeared on "Watch What Happens" on Thursday night when a viewer called in asking if it was true she tried out to be a co-host on the ABC morning show in 2013 after Elisabeth Hasselbeck left.
"Yes," Shields told the caller before host Andy Cohen pressed her for more information.
"I went through a week of being on the show and you know, I did all my homework, I take everything very seriously," she shared.
Shields said she was in the parking lot of the Hollywood Bowl when she received a call from one of the producers who told her they wanted to go with Jenny McCarthy.
"I was like, OK, she's a friend, but you want one or the other," an uncomfortable Shields recalled thinking. "I think they were going for something different."
McCarthy didn't last on the show for very long, leaving the program in 2014. She recently opened up about her time on "The View" in the explosive tell-all book "Ladies Who Punch: The Explosive Inside Story of The View."
She told author Ramin Setoodeh she was "miserable" every single day she went to work.
“It really was the most miserable I’ve been on a job in my 25 years of show business," McCarthy, 46, admitted in an excerpt of the book published on Vulture.
She also said the producers tried to morph her into a conservative like Hasselbeck.
"They did try to change me. They wanted Elisabeth back and I wasn’t Elisabeth,” the "Two and a Half Men" actress insisted. “I would literally have meetings before the show of them trying to input opinions in me to go against Whoopi. I was going to work crying. I couldn’t be myself. My fans were telling me, ‘Where’s Jenny? They aren’t letting you be you.'"