Daybreak has been officially axed by ITV and the new series will start later this year.
BBC Breakfast's Reid will be joined on the show by former GMTV host Ben Shephard, Sky Sunrise's Charlotte Hawkins and Sky Sports presenter Sean Fletcher.
Speculation about Reid being poached by ITV has been rife in the tabloids since she proved to be a popular figure on BBC One's Strictly Come Dancing.
Reid is currently on leave from BBC Breakfast, following the breakdown of her relationship with long-term partner Dominic Cotton.
Her regular Breakfast co-host Bill Turnbull expressed sadness following news of her departure from the corporation, wishing Reid the best in her new role.
Sorry to be losing @susannareid100 from the sofa. Great broadcaster, great colleague, great friend. Wishing her all the best.
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ā Bill Turnbull (@billtu) March 3, 2014
Daybreak hosts Lorraine Kelly and Aled Jones have been shifted to new roles in ITV's morning schedules.
Lorraine will host Lorraine between 8.30am and 9.25am on Monday to Friday.
Meanwhile, Jones will host the new morning show Weekend on Saturday and Sunday mornings, which will feature a mixture of chat and musical guests.
Daybreak lasted four years, but failed to compete in the ratings battle with BBC Breakfast and despite two major launches, failed to win over critics.
It was initially launched as a replacement for GMTV in September 2010 with Christine Bleakley and Adrian Chiles as hosts, but the pair were dropped in 2011. Dan Lobb and Kate Garroway were temporary hosts, before Jones and Kelly took over in May 2012 with a full relaunch.
ITV Director of Daytime, Helen Warner, said: "I'm delighted to welcome all four presenters to the ITV Breakfast family. ITV has a first class roster of breakfast and daytime talent both on and off screen and I'm thrilled to be expanding this.
"Our overriding aim is to continue to improve our breakfast programming for our viewers, and we have been working for some time behind the scenes developing the next chapter of our offering.
"Engaging, news driven content is our number one priority and will be at the heart of everything we do on Good Morning Britain. I believe we have a top team in place to deliver this and make this a compelling proposition to wake up to in the morning."
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