The news comes just weeks after Spencer renegotiated her deal with ABC and Josh Elliott announced he was leaving GMA for NBC Sports. The promotion now gives Spencer, 44, the same title as George Stephanopolous and Robin Roberts.
In a note sent out after Friday morning's broadcast, new ABC News President James Goldston called Spencer "as talented as they come" and a "key member" of GMA's on-air team. "Lara is clearly an essential ingredient in the success we have enjoyed and I am so pleased to announce that Lara has been elevated to co-host of the program along with Robin and George," he wrote.
Stephanopolous tweeted about the big news on Friday. "Huge congrats to my GMA co-anchor and friend Lara Spencer on her promotion!" he wrote.
Spencer has served as Good Morning America's lifestyle anchor since rejoining ABC in 2011. She was previously a national correspondent for the morning show from 1999 to 2003.
Are you excited to see more of Spencer on Good Morning America?