The television legend has been cast in the 13-episode reboot as the new owner of local watering hole Phil's and a confidante to Murphy (Candice Bergen) and the rest of the gang.
TVLine reports the Cagney & Lacey vet will take over for late actor Pat Corley, who played the bar's namesake owner in the original series. Corley passed away in 2006, eight years after Murphy Brown's series finale in 1998.
Daly will play Phyllis, Phil's sister, who assumed control of the establishment after his death. According to CBS, "it's evident that the apple doesn't fall far from the tree."
Along with Bergen, many original cast members are set to return for the revival including Faith Ford, Grant Shaild and Joe Regalbuto. Writer and executive producer Diane English will also return as showrunner.
Former Greek star Jake McDorman was also recently cast as Murphy Brown's adult son, Avery Brown, who has been described as a "millennial journalist who is following in his mother's footsteps, perhaps too closely, and has his mother's competitive spirit and quick wit."
It has not been revealed whether former Murphy Brown stars Charles Kimbrough and Lily Tomlin will make appearances in the revival.
Murphy Brown first aired in 1988 and quickly become one of the most acclaimed sitcoms of all-time. It is the only series to receive a score of 100 on Metacritic.
"As its 30th anniversary approaches, Murphy Brown returns to a world of cable news, social media, fake news and a very different political and cultural climate," CBS said of the revival in a previous news release.
Classic sitcom revivals have done very well lately, with Fuller House and Will & Grace both being praised by critics and fans alike.
Maybe the most successful sitcom revival lately has been Roseanne, as the reboot was recently named the No. 1 show in America, giving ABC the title for the first time in 18 years.
Daly's Cagney & Lacey is also being rebooted by CBS, with Grey's Anatomy departing cast member Sarah Drew being cast as Cagney and Blindspot veteran Michelle Hurd taking on the role of Lacey.
Daly and Sharon Gless played the title characters in the original Cagney & Lacey, which ran on CBS for seven seasons. The series won two best drama Emmys and six lead actress in a drama series trophies — four for Daly and two for Gless. It has not been revealed whether the original stars will make appearances on the reboot.
Murphy Brown is expected to premiere this fall on CBS.