Rancic will stay on as anchor and managing editor of E! News for the next three years, and as co-host of the weekly comedy series "Fashion Police" and host of "Live From the Red Carpet" signature events, as well as head up other specials for the network.
In addition, E! said it will have "first look" rights to Rancic's ideas for series, specials and other broadcast projects, both scripted and non-scripted.
"Our viewers feel a special connection to Giuliana since in many ways she's grown up on our air over the past decade," Suzanne Kolb, president of E!, said in a statement Tuesday. "Giuliana's on-air charm, charismatic personality and outstanding professionalism have made her one of TV's most recognized hosts, and her work has helped propel E! News to new heights. She possesses a deep passion about pop culture that keeps her constantly in the know and up to date on the same topics that fascinate our viewers."
"It's been an amazing ride, and I'm excited for my journey at E! to continue. I'm extremely proud of the tremendous opportunities E! has given me over the past 10 years and I'm excited to be part of the network's exciting future. The best is yet to come," said Rancic.
Rancic joined E! in 2002 as a correspondent for E! News, and she has been anchor and managing editor for the program since January 2005.
The breast cancer survivor and her husband Bill are expecting their first child to be born via surrogate this summer.
Ohio bar shooting arrested, charged with murder
Duggar sisters unveil Christian dating rules in new book