The British singer has worked alongside Simon Cowell on the UK version of the talent competition for three years after her rise to fame in pop group Girls Aloud.
Cole is the third confirmed judge for the Fox show and will sit alongside Cowell and the previously-confirmed Antonio 'L.A.' Reid.
"I'm so excited to be taking part in the American version of The X Factor," Cole said. "I absolutely love it here in the UK, and with the talent they have out in America, I'm sure we're going to find someone very special. I can't wait to get started.
"I just can't decide whether I am more excited to find and nurture the talent or for the unbelievable amount of amusement and entertainment I will have watching Simon doing everything and anything he can to beat me. He's tried to beat me for three years in the UK, and hasn't even come close. His ego must be so bruised. America is gonna love this."
Cowell said: "I'm thrilled for Cheryl. She is massively excited about this show, and has been fantastic to work with. She is also a complete brat! Most importantly, this girl can spot talent."
Mike Darnell, president of alternative entertainment, Fox Broadcasting Company, continued: "Cheryl Cole has the whole The X Factor package - She's an incredibly talented artist and performer, as well as a style icon, and she has that special charisma that draws in fans around the world.
"Cheryl's charm and chemistry with Simon have been a key part of the overwhelming success of The X Factor in the UK, and we can't wait to welcome her to the US on our air."
The show's executive producer Cecile Frot-Coutaz added: "As a young artist whose talent show discovery led to almost immediate stardom, Cheryl's career exemplifies the promise of The X Factor. Her empathy and passion for identifying and nurturing undiscovered talent has made her a huge hit with British audiences, and I have no doubt America will fall in love with her beauty, her accent and her incredible chemistry with Simon Cowell."
On the UK version, Cole mentored both Alexandra Burke and Joe McElderry to victory and saw her act Rebecca Ferguson come second last year.
Reports have suggested that she will follow Simon Cowell's lead and quit her position on the UK panel, creating two available judging roles on the ITV1 show.
Auditions for The X Factor began in Los Angeles in March, where a record-breaking crowd turned out at the LA Sports Arena. Thousands more auditioned in Newark, Seattle, Chicago and Miami, where Gloria Estefan made a surprise appearance to pump up the crowds. Further auditions were held at MyStudio recording booths across the US where hopefuls could submit a video performance.
The final open audition will be held at the Dallas Convention Centre in Dallas on May 26.
The winner of The X Factor will receive a $5 million recording contract with Sony Recordings/Syco.
> Gallery: Cheryl Cole's career in pictures
> Video: Cheryl Cole's got the 'X Factor' job - but has America heard of her?
> Video: Cheryl Cole's greatest performances
> Poll: Is Cheryl Cole the right choice for 'The X Factor' USA?
> Cheryl Cole: Her rise to 'X Factor' USA
> Read our full 'X Factor' coverage
Watch our 'Is America ready for Cheryl Cole?' video below:
Watch Cheryl Cole's video for her UK number one single 'Promise This' below: