Time Warner is expected to announce soon that Zucker, who currently produces Katie Couric's daytime talk show, will succeed CNN Worldwide's departing President Jim Walton, whose contract expires at the end of the year.
Zucker helped lead Today to a 16-year ratings winning streak as executive producer. He then served as NBC's entertainment president and later rose to president and CEO of NBCUniversal.
Although Zucker enjoyed success at the Peacock, he also took most of the blame for the Tonight Show debacle that began with Jay Leno's failed prime-time show and ended with Conan O'Brien leaving NBC and handing the Tonight Show back to Leno. Zucker was replaced at NBCUniversal after Comcast bought the company.
Zucker will have an uphill climb at CNN as the network is currently battling sliding ratings.