The Giuliana & Bill star confirmed in October that she has been diagnosed with an early stage breast cancer.
Giuliana previously had the less-invasive lumpectomy, but was recently told by doctors that the cancer had not been completely removed in one of her breasts.
During an appearance on Today on Monday, Giuliana and husband Bill Rancic told Ann Curry that a double mastectomy and a breast reconstruction will help her regain her health.
"In the end, all it came down to was just choosing to live and not looking over my shoulder for the rest of my life," Giuliana commented.
The television presenter also said: "For me, it was very important to just get the cancer out. That's what I wanted to do. Just get it out. With the double mastectomy I have less than 1% chance of getting it back.
"With the lumpectomy, radiation and medication, I could have seen 20 to 30 to 40% chance in my lifetime, and for me it just wasn't worth it."
Husband Bill told Curry that he supports his wife's decision and added that the procedure is the best way to ensure a long and happy life.
"This is a decision that wasn't made lightly. We talked to as many experts as we could, we got the best information that was made available to us," Bill assured Curry. "One of the other factors that came in was quality of life. If she had chosen the lumpectomy and radiation, then you have to go in every six months for the rest of your life getting mammograms.
"You're always looking over your shoulder. In this particular case, [the double mastectomy] was the best option for Giuliana."
Giuliana is expected to undergo the medical procedure in the next few weeks.
She previously suggested that the outpouring of support from the public since she announced her cancer diagnosis has been tremendously encouraging.
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Watch Giuliana and Bill Rancic's Today interview below: