Hasselbeck, 36, a conservative who often clashed with the show's other presenters, including former co-host and liberal Rosie O'Donnell, will wrap up her 10-year run on Wednesday, ABC said in a statement.
"She stood behind her political views even if they were not the most popular opinions at the table, never shying away from voicing a difficult question," ABC said in the statement.
Hasselbeck's departure comes after veteran TV journalist Barbara Walters said in May that she would retire in the summer of 2014. Co-host and comedian Joy Behar said she would leave the show after the current season concludes on August 9.
Reports emerged in March that Hasselbeck was leaving "The View" when the current season ends in August, but ABC, owned by the Walt Disney Co., responded by saying Hasselbeck was under a long-term contract.
Hasselbeck will replace Gretchen Carlson in mid-September on "Fox & Friends" and will join co-hosts Steve Doocy and Brian Kilmeade.
"She has proven to be an excellent conversationalist and I am certain she will make a great addition to our already successful morning franchise," Fox News Chairman and CEO Roger Ailes said.
Carlson, 47, will anchor a one-hour daytime show on News Corp-owned Fox News Channel in the fall.
(Reporting by Piya Sinha-Roy; Editing by Mary Milliken and Stacey Joyce)
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