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O'Donnell has constantly made front-page headlines with her opinions since her introduction last year on the popular show.
The 45-year-old former actress says, "My needs for the future just didn't dovetail with what ABC was able to offer me.
"This has been an amazing experience and one I wouldn't have traded for the world."
The talk show, founded by seasoned journalist Barbara Walters, experienced a massive ratings boost when O'Donnell joined the cast of women who discuss current events and interview celebrities in front of millions of viewers.
In response to the announcement, Walters, who is thought to have constantly dealt with the consequences of O'Donnell's risqué statements, said, "I wanted Rosie to come back to television on The View even for just one year.
"She has given the program new vigor, new excitement and wonderful hours of television. I can only be grateful to her for this year."
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