The celebrity-oriented TV news magazine "Extra" said ABC was preparing for an official announcement expected Friday.
Former "Everybody Loves Raymond" star Patricia Heaton had been widely considered a front-runner for "The View" when Vieira leaves to take over for Katie Couric on NBC's "Today Show." Other names frequently mentioned included Connie Chung and Soledad O'Brien, "Extra" said.
O'Donnell began as a standup comic and won $20,000 on "Star Search." She went on to log a number of TV and film credits and has six Daytime Emmy Awards for "The Rosie O'Donnell Show."
She and her partner, Kelli Carpenter, have four adopted children.