This Morning's Schofield and News at Ten anchor Etchingham, who co-hosted last spring's royal wedding of Prince William and Kate Middleton, apparently impressed channel bosses by their partnership.
"They may not have won the ratings that day, but Julie and Phillip got critical acclaim for their unstuffy coverage," a source told the Daily Mail.
"They had a more upbeat tone than some of the other networks, slightly less funereal. Julie is a terrific broadcaster and we think she and Phillip will be a great combination."
Schofield had previously admitted that he was "nervous" about presenting the event.
Watch ITV's montage of the 2011 royal wedding below: