Lee/APSarah Palin signs with Fox News as a contributor.

Sarah Palin is becoming a TV star.

The former Alaska Governor has signed a multi-year deal to serve as a contributor to Fox News, effective immediately.

"I am thrilled to be joining the great talent and management team at Fox News," Palin said in a statement. "It's wonderful to be part of a place that so values fair and balance news."

Terms of the deal were not disclosed.

Joining Fox News, the top-rated cable news network, is the latest twist in Palin's meteoric rise to fame after being named Sen. John McCain's vice presidential candidate for the 2008 election.

Since then she's left her job as governor, saying she can do more out of office than in, and written a book "Going Rogue: An American Life."

"Gov. Palin has captivated everyone on both sides of the political spectrum and we are expected to add her dynamic voice to the Fox News lineup," Bill Shine, Fox News' executive vice president of programming said in a statement.

Palin has been no fan of the media, either. She slammed CBS' Katie Couric and ABC's Charles Gibson for the way she was treated in interviews during the presidential race.

She's also been in the middle of a tabloid squabble with Levi Johnston, the father of her daughter's child, over parental visitation.

As a contributor to Fox News, Palin will offer political commentary and analysis for all of the network's platforms, as well as special event political coverage for Fox Broadcasting.

She will also host periodic episodes of FNC's "Real American Stories," a series looking at inspirational real-life tales set to launch this year.

Palin joins an on-air team that also includes former Arkansas Gov. Mike Huckabee, who hosts a weekend show, and Fox News analysts Newt Gingrich and Karl Rove.