The 50-year-old actress has been absent this month to rehearse for Broadway play 'Fish in the Dark', reported E! online.
Co-host Rosie O'Donnell was first to confirm Perez's return.
"Rosie Perez is coming back, she's rehearsing for the new Larry David play and begins previews on February 3, and that day, she will be back here. Don't always believe what you read in the press, folks."
A statement from the network also said: "We look forward to welcoming the multi-talented Rosie Perez back to her seat as co-host on the panel on February 3 after completing rehearsals."
Whoopi Goldberg stayed with the show as part of the shuffle, while Rosie O'Donnell returned following her abrupt departure in 2007.
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