The yet-to-be-named morning weekday show will go out from early 2005 and will take a similar format to ITV's 'Trisha', with its fair share of scandals, love cheats and paternity tests.
Trisha, which goes out at 9.25am weekdays on ITV1, is the station's best performing daytime show and regularly attracts more than a 30% share.
Five's other projects are being kept under wraps, but Goddard said it will allow her to "grow creatively" in primetime, hinting at perhaps a drama or extension of her chat show.
Goddard said: "I've had six fantastic years at ITV and been fortunate enough to work with some great people. However, emotional upheaval can make one re-evaluate one's life, and I know in my heart it's time for a change."
Five said that its success in attracting Trisha reflected the progress that the broadcaster had made.
Dan Chambers, Five's director of programmes, said: "I'm delighted we've persuaded one of the biggest stars of British television to join Five. It's a sign of the strides the channel has made that we have been able to convince someone of Trisha's calibre that Five will be a great home for her."
The Five show will be made by Town House Productions, a new independent company co-owned by Goddard and Malcolm Allsop, former director of programmes at Anglia Television.
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