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Sarah Palin Returns to Fox News as Contributor

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Sarah Palin is back in the Fox News fold.

The Alaska governor turned media lightning rod is returning to the cable network and sister station Fox Business Network as a paid contributor, Fox announced Wednesday.

"The power of Fox News is unparalleled," Palin said in a statement. "The role of Fox News in the important debates in our world is indispensable. I am pleased and proud to be rejoining [president and chair] Roger Ailes and the great people at Fox."

WATCH: Tina Fey revives her Palin impression on Inside the Actors Studio

And it sounds as if she was courted by the network, which did not immediately renew her contract back in January after two years as a contributing pundit.

"I've had several conversations with Governor Palin in the past few weeks about her rejoining Fox News as a contributor," said Ailes. "I have great confidence in her and am pleased that she will once again add her commentary to our programming. I hope she continues to speak her mind."

Oh, we betcha she will. Her new run kicks off June 17.

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