"I can't wait to see the other girls and get back behind that famous desk," Coleen told HELLO! Online. "I'm a bit nervous because it's been nearly three years since I've done it, but I'm really excited too!"
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Coleen – whose older sister Bernie Nolan tragically lost her long battle with cancer in July – became a regular panellist on the daytime series in 2000. She remained on the show on-and-off for more than a decade before announcing in March 2011 that she was leaving.
Speaking about her return, she said, "After two and a half years away, now feels like the right time to 'come home' to Loose Women.
"I'm ready to embrace the show whole-heartedly again and return to the most special of places – the homes of our viewers. It's the public that have always mattered the most to me, and the Loose Women audience are the most loyal of all.
"They have been so supportive to my family during the devastating loss of our beautiful sister and I hope they’ll be as pleased to have me back, as I am to be back."
Coleen will return alongside Scottish presenter Kaye, who will share the role of anchor with Carol Vorderman and Andrea McClean.
"I feel privileged to have been one of the original Loose Women and now feel doubly privileged to be invited back six years on," said Kaye, who anchored the show from 1999 until 2006.
"Loose Women is perhaps the only show on which you can be unapologetically female...smart, sassy, sometimes stroppy, sometimes silly but always straight talking.
"It's the world and what matters in it through a female prism, a perspective we don't see or hear enough of, and I can't wait to play my part again."