The Girls Aloud star has appeared on the panel of the U.K. show for the last three years alongside Simon Cowell, Louis Walsh and Dannii Minogue.
Speculation has been rife over who Cowell would pick to judge the upcoming American version of the talent series when it launches later this year, with Nicole Scherzinger, Jessica Simpson and Nicki Minaj among the names rumored to be on the shortlist.
Music mogul Antonio 'L.A.' Reid made it onto The X Factor panel alongside Cowell - and on Thursday it was confirmed Cole will quit the U.K. show for a move Stateside.
Cowell says, "I'm thrilled for Cheryl. She is massively excited about this show, and has been fantastic to work with. She is also a complete brat. Most importantly, this girl can spot talent."
And Cole is ecstatic about being handed the high-profile role, adding, "I'm so excited to be taking part in the American version of The X Factor. I absolutely love it here in the U.K., and with the talent they have out in America, I'm sure we're going to find someone very special. I can't wait to get started."