The Rosie Show was recently axed by bosses at Oprah Winfrey's OWN network after just one season, but the actress is refusing to dwell on the news and is now planning to return to the New York stage.
According to The Daily Beast, O'Donnell has met with show producers about taking on the part of Miss Hannigan in the forthcoming musical, which will star the Men In Black actor's daughter, Willow Smith, as the titular orphan.
O'Donnell took to Twitter.com earlier this week (begs19Mar12) to address her talk show's cancellation and reveal her next career move.
She tweeted, ""That's showbiz and I am happy to have had the chance and now to be back home in ny - maybe broadway!""
If the funnywoman is cast in Annie, she will be no stranger to the role - she previously played the boozed-up headmaster of the orphanage in a cruise ship production of the hit musical for her R Family Vacations company.
Oscar-winning British actress-turned-screenwriter Emma Thompson has been hired to rework the classic Annie script, while rap superstar Jay-Z is helping to score the production.
O'Donnell last appeared on Broadway in a 2004 revival of Fiddler on the Roof and she starred in the Off-Broadway play Love, Loss, and What I Wore in 2009.