After Joy Behar announced she would be exiting the show, multiple reports surfaced online speculating Hasselbeck's future on the daytime talk show was also coming to an end.
Walters addressed the whirlwind of rumors on Monday's edition of the ABC broadcast, calling the story "particularly false."
"We have no plans for Elisabeth to leave," Walters said.
She also denied reports that Hasselbeck's conservative views clashed with the show's political stances.
"The truth is we love Elisabeth," Walters said. "I like her personally and she's just a wonderful person but beyond that we value and appreciate her point of view. It's important to us because Elisabeth helps give this show perspective and balance."
Hasselbeck is one of the longest-running hosts, having been on "The View" for over a decade.
Behar, who was among the first co-hosts with Walters when "The View" debuted in 1997, has said she's leaving the show to pursue other endeavors.
Besides Walters, the remaining panel includes Whoopi Goldberg and Sherri Shepherd.
KABC-TV Los Angeles, CA contributed to this report.