Palin gets job talking politics on Fox News
She also will host occasional episodes of Fox News' "Real American Stories," a series featuring inspirational stories about Americans.
"It's wonderful to be part of a place that so values fair and balanced news," Palin said in a statement.
The network declined to say how much she is being paid.
Palin, 45, is expected to make her first appearance as a contributor tonight on "The O'Reilly Factor."
She's hugely popular with conservatives, the staple of Fox's viewers, and has more than 1.1 million Facebook followers.
She stepped down as Alaska governor in July, 17 months before the end of her first term in office. Her resignation came less than a year after she vaulted to fame as John McCain's running mate in the 2008 presidential election.
Palin has had colossal success with her memoir, "Going Rogue," released four months after she left office. She finished a nationwide tour in December after hitting some of the political battleground states from the 2008 election -- including Michigan -- and drawing thousands of fans.