King, 76, recently announced his plans to wrap up "Larry King Live," a program he began in 1985.
Morgan's as-yet-unnamed show will be "a candid, in-depth newsmaker interview program," the cable news network said Wednesday.
"Piers has made his name posing tough questions to public figures, holding them accountable for their words and deeds," CNN-US President Jon Klein said. "He is able to look at all aspects of the news with style and humor with an occasional good laugh in the process."
Morgan is a 45-year-old former newspaper editor who served as judge on "Britain's Got Talent" and competed on the U.S. show "The Celebrity Apprentice." He also is part of the judges' panel for "America's Got Talent" and starred as host of "Piers Morgan's Life Stories."