"We had some good times, we had some bad times, but they were never boring," co-host Barbara Walters said by way of introducing O'Donnell, who frequently got into heated arguments with recently departed co-host Elisabeth Hasselbeck during her time on the show in 2006 and 2007.
"It feels kind of weird, but good weird," O'Donnell said of her return to the set.
Early clips from the episode show that O'Donnell still isn't afraid to speak her mind. One of the "Hot Topics" that will be covered on Friday's episode is Dylan Farrow's allegations that she suffered sexual abuse at the age of 7 by her adoptive father Woody Allen.
"Oh no, here we go. Is Hasselbeck here?" O'Donnell quipped at the start of the segment.
She continued: "I firmly believe Dylan."
Walters disagreed, however. "I know Woody as a parent," she said. "I think he's been a good father."
But just when things looked as though they were starting to get heated between the two women, Walters insisted on moving on.
"How did I do on that one? It could have been bad," O'Donnell quipped. "It's my first time back. I'm afraid I'll be exiled again."
Watch O'Donnell's entrance and the discussion about Dylan Farrow below: