The TV star – who left US chat show The Talk last year after an on-air row — will present a primetime current affairs panel show, which is also called The Talk.
The hour-long programme will air on weeknights and will feature five “opinionated famous faces” discussing issues such as news, politics, sport, crime and entertainment.
The star joins her friend Morgan, who is launching a show on the channel called Piers Morgan Uncensored that he says will aim to “cancel the Cancel Culture which has infected societies around the world”.
Osbourne said: “I’m excited to be working with News UK, the panel and my good friend Piers.
“Watch this space for some exciting and lively debates from us all.”
The 69-year-old’s new gig comes after she left The Talk following a row with co-host Sheryl Underwood.
They clashed in March last year while discussing former Good Morning Britain star Morgan’s comments about the Duchess of Sussex’s interview with Oprah Winfrey.
The pair teamed up for a video to announce Osbourne’s new gig.
The video, shared on Instagram, shows Morgan saying what he looks for in a colleague.
"What I'm really looking for in my co-workers at TalkTV is somebody who is, well, a bit like me," he teased.
"Very opinionated, fearless, funny, knows their own mind, not afraid to speak it, unpredictable. Maybe a little bit dangerous. But also somebody who, every time they open their gobby little mouth, it makes global news."
Osbourne then appears next to him and asks: “Where do I sign, Piers?"
Sharing it on her own account, Osbourne — wife of Black Sabbath rocker Ozzy — told fans: “I sent my resume...”
TalkTV is expected to launch in the spring.
News UK chief executive Rebekah Brooks said they were “delighted” that Osbourne would be a part of the venture.
“Sharon has built a unique and hugely successful media career, combining strong views and opinion with a lot of warmth and fun,” she said.
“Her unbounding energy will make her show compelling viewing and we are delighted to give her a new home at TalkTV.”
Additional reporting by PA.
Watch: Sharon Osbourne slams Talk bosses