The former Royal Ballet principal ballerina will replace the ex-Misteeq singer as a judge on the BBC One show following Dixon's switch to Simon Cowell's Britain's Got Talent
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Bussell is rumoured to have signed a £100,000 deal with the broadcaster.
The 42-year-old mother of two lent a hand at the final stages of the competition three years ago as a guest judge amd also performed a jive on the show with pro dancer Ian Waite.
Craig Revel Horwood told Digital Spy earlier this year that he wanted to see her join the panel.
[Last year's 'Strictly Come Dancing' panel: Craig Revel Horwood, Len Goodman, Alesha Dixon, Bruno Tonioli]
"I had such a lovely experience in 2009 when I was a guest judge, that coming on board now feels very natural," said Bussell. "Strictly combines quality dance and great entertainment, which is such a positive for everybody involved. I am very excited and really looking forward to being part of the Strictly team."
Katie Taylor, head of in-house entertainment at the BBC said: "Having previously acted as a guest judge on Strictly Come Dancing in 2009, Darcey is already part of the Strictly family and I couldn't be more thrilled that she's returning to us as our new judge. I know she will sparkle in our ballroom."
BBC One controller Danny Cohen added: "Strictly Come Dancing is a jewel in BBC One's crown and I can think of no-one better to join our Strictly judging panel than Darcey, the UK's queen of ballet.
"Darcey has all the poise and glamour, along with the experience and credentials to deliver meaningful and insightful critiques of our couples' performances. She's a huge fan of the show and will be a fantastic addition to the Strictly family."
Industry names including former Strictly Come Dancing professional Karen Hardy and choreographer Karen Bruce are reported to have filmed screen tests for the job.
Dixon left a vacancy on the Strictly panel after an offer from Britain's Got Talent rumoured to be in the region of £350,000.
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