The 65-year-old anchor will host a new daily program set to debut early next year. He will also provide analysis and commentary on business news throughout the day for the channel.
Dobbs, who also hosts a radio show, left CNN last November, saying that media, political and business leaders were urging him to "go beyond my role here at CNN and engage in constructive problem-solving." He said he was contemplating possible Senate and White House runs last year.
One of CNN's original anchors, Dobbs hosted Moneyline from 1980 to 1999, when he briefly left the company. He returned in 2001 to host the renamed Lou Dobbs Moneyline (which eventually became Lou Dobbs Tonight).
He became known for his outspoken, conservative views on immigration toward the end of his time at CNN, and gave his first post-exit interview to Fox News Channel's Bill O'Reilly.