Gifford will make her debut alongside Hoda Kotb April 7.
"I am excited to welcome Kathie Lee to 'Today,'" Bell said in a statement. "She is a morning television icon and is on a short list of personalities known by her first name alone. We are looking forward to her signature warmth and sense of humor in the fourth hour. Her addition to the 'Today' family makes us stronger than ever, and she and Hoda will continue the 'Today' tradition of smart, topical and fun morning television."
"I am truly honored to join the 'Today' show family, many of whom have been friends and colleagues of mine for years," Gifford added. "And I'm especially looking forward to working with Hoda, a bright and beautiful woman I admire very much. Together I hope we will bring a fresh and fun perspective to the topics that affect all of our daily lives."
Gifford is best known as the former co-host of "Live with Regis and Kathie Lee" and as a correspondent for "Good Morning America."