Suchet will take over from Young while she is on maternity leave
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News anchor John Suchet - who retired from ITN in March 2004 - is to return to TV newsreading in the New Year as a presenter on Five News.
He will host the 5.30pm and 7pm bulletins on Thursdays and Fridays, before taking over full-time when Kirsty Young goes on maternity leave.
"I can't wait to return to the cut and thrust of the newsroom," said the 61-year-old broadcaster.
Suchet worked on the Lunchtime News and News At Ten during his 32 years at ITN.
Award-winning correspondent
"Since leaving ITV News, I've been very fortunate to work on my other big passion in life which is my music.
"But I didn't realise quite how much I missed it until I was offered this opportunity," he added.
The veteran newsreader - who is the brother of Poirot actor David Suchet - was an award-winning foreign correspondent for many years before becoming a studio-based presenter.
He left his television job because he wanted to write his autobiography and concentrate on his passion for music.
Since his retirement last year he has presented a show about composers on radio station Classic FM, reported for ITN on the 60th anniversary of the D-Day landings and put in brief appearances on ITV1 daytime show This Morning.