The 40-year-old beauty - who has appeared on the programme 17 times, including eight as a guest co-presenter - was announced as Joy Behar's replacement on today's episode of the ABC talk show by her new co-star Barbara Walters.
Barbara - who is the only panellist to have been on the show since its debut in 1997 - said: "We are delighted that Jenny will be joining us as a permanent co-host on 'The View' starting in September.
"Jenny brings us intelligence as well as warmth and humor. She can be serious and outrageous. She has connected with our audience and offers a fresh point of view. Jenny will be a great addition to the show as we usher in an exciting new chapter for 'The View'."
Following the announcement, Jenny - a former Playboy model - admitted she can't wait to get started in the permanent role and is keen to inject some added spice into the programme.
She said in a statement: "I'm beyond thrilled to be joining Barbara and the other amazing women at the table. I'd like to thank ABC for this great opportunity.
"I'd also like to give a big thank you to VH1 for their support and for allowing me to fulfill this lifelong dream. I look forward to helping make hot topics a little bit hotter, and showing my mom that my interrupting skills have finally paid off."
Jenny's appointment comes just four days after Elisabeth Hasselbeck made her final appearance on the talk show.
Barbara, 83, recently revealed she will retire in 2014.