The former daytime host has not appeared on screens since The Jeremy Kyle Show was cancelled by ITV in May 2019 after guest Steve Dymond died a week after failing a lie detector test filmed for the reality show.
But Kyle, 56, joined fellow 'cancelled' presenter Osbourne, 69, on the new show The Talk UK where they discussed the Royal Family.
Osbourne - who left the US version of The Talk in March last year following accusations of racism - told viewers: "It's great to be back on your screens and even greater to be employed.
"Prince Andrew is an utter disgrace to the Royal Family... Prince Harry just wants to come back for that picture on the balcony".
Sharon Osbourne gives her opinion on 'how to fix the firm'.@MrsSOsbourne | @TheTalkUK | #TalkTVpic.twitter.com/2icle1mh1s
— TalkTV (@TalkTV) April 25, 2022
"It's our first show tonight and it's going to be fabulous, isn't it darling?"
Kyle replied: "Completely fabulous Mrs O. Delighted to have you on. Welcome back to the country."
Joined by commentators JJ Anisiobi and Esther Krakue and actor Nicola Thorp the panel discussed the future of the British Royal Family following Prince Harry's departure to live in the US and Prince Andrew's out-of-court settlement in the civil sex assault claim made against him.
Watch: Jeremy Kyle breaks silence on losing ITV show
Kyle said: "When the Queen is gone, I think the monarchy is in trouble. I think she transcends all the arguments.
"I think she is this incredible woman and the public will be less enthusiastic about the royal family in its entirety."
Speaking on her new show she said: "I think Andrew is an utter disgrace to the Royal Family and I think he should be locked up in the Tower and throw the key away.
"As far as Harry and Meghan go - they wanted to leave which is their choice, absolutely fine. And when they left all they did was talk about the Royal Family, which was totally inappropriate to tell the public, I felt.
"And now he wants back in, and you can't have it all."
Kyle recently spoke out after Channel 4 aired new documentary Jeremy Kyle Show: Death on Daytime, featuring ex-production staff claiming guests were lied to, baited and manipulated in order to provoke them into fighting on the show.
At a preliminary hearing of the inquest into the death of Dymond, the coroner named Kyle as an "interested person" who, "may have caused or contributed to the death of Stephen Dymond”.
Dymond, 63, is believed to have taken his own life but a full inquest into his death has yet to take place.
The inquest was recently postponed due to a further family bereavement.
In 2019 Kyle declined to appear before an inquiry by the Committee for Digital, Culture, Media and Sport (DCMS).
Death On Daytime featured behind the scenes footage of Kyle telling production staff, "'I don't understand, they're terrible f***ing guests, you've done it again, they're as thick as s***."
Channel 4 said: “Jeremy Kyle was approached for a response to the series. He did not provide a statement for broadcast. We will reflect his position in the film.”
An ITV statement said: "ITV does not accept the central allegation of this programme of a 'bad culture' within the production team.
"We note that the programme includes anonymous former production members claiming wrongdoing by themselves and others, without supporting evidence. ITV would never condone any of its production staff misleading or lying to guests."
After Dymond's death from a drug overdose, Ofcom said programmes such as The Jeremy Kyle Show and Love Island need to make sure that they look after their contributors following concerns about mental health.
For confidential emotional support at times of distress, contact The Samaritans at any time by calling 116 123 or emailing firstname.lastname@example.org.
Watch: Jeremy Kyle comments on the C4 documentary which accused him of bullying behaviour