Osmond, 59, will join the CBS show when it returns for Season 10 in September. She will be sitting alongside current hosts Eve, Carrie Ann Inaba, Sharon Osbourne and Sheryl Underwood.
“It is such a joy for me to be joining 'The Talk' in September. After guest co-hosting and appearing as a guest on the show throughout the years, I am thrilled to now call this my day job,” Osmond said in a statement obtained by Variety on Tuesday.
“I look forward to working with Sharon, Sheryl, Eve and Carrie Ann, who are such smart, strong, talented women whom I immensely respect. I cannot wait to share this exciting new chapter with the viewers and the CBS family.”
Last month, Gilbert — who created "The Talk" in 2010 and has been a co-host for the past nine seasons — announced she'd be leaving the talk show at the end of this season.
“This is something I have been struggling with for a while and going back and forth. But I’ve decided it’s time for me to leave the show,” Gilbert said at the time. "I obviously love it here and this was extremely difficult."