Julianne Hough Replaces Tyra Banks on DWTS as New Co-Host

She announced the news Monday morning, after outgoing co-host Tyra Banks revealed she was leaving the Disney+ show after three seasons last week. She'll front the show alongside returning cohost Alfonso Ribeiro.

"It is such an honor to be rejoining 'Dancing with the Stars' as co-host. The show holds such a special place in my heart from the many years and different roles I have had the privilege of being a part of," Hough told Variety.

"The incredible team that brings the ballroom to life every night has been my family for the past 17 years," she continued. "I am so excited to reunite with Alfonso, Carrie Ann, Bruno, Derek, the unbelievably talented pros, and the amazing cast on the dance floor."

"The energy is magnetic every time you step foot in to the ballroom and I can't wait to feel it again — and of course to share it all with the absolute best and most loyal fans — for another exciting season," she concluded.

As she mentioned, Hough's history with the show runs deep. She began on the series as a pro dancer from 2007-2009, for seasons 4 through 8. She later returned as both a guest judge and full-time judge in later seasons.

Banks shocked viewers last week when she spoke with TMZ about her decision to leave after three seasons.

"I feel it's time for me to really focus on my business and my entrepreneurship, and also producing more TV ... but behind the scenes," she said. "I think it's time to graduate from the dance floor to the stock market floor, from the ballroom to the boardroom."

"Don't you think it's time? Yeah, I think it's time," she added. "I'm an entrepreneur at heart. I think my heart, my soul, is into my business, it's also into producing new TV, which we're working on. We have a new business show coming soon. But, I really, really want to focus on my business, and you can't do that hosting a show."