"We are happy to welcome Iman to the Bravo family," said Bravo executive Frances Berwick.
"Breaking barriers in the fashion industry, Iman is a true pioneer and her unparalleled credibility will inspire the contestants and be a perfect match to the always exciting, Isaac Mizrahi."
Bravo had stated that Mizrahi would reprise his hosting duties when it announced the reality competition's second-season renewal in March, however Rowland had been conspicuously absent from the announcement and the network had declined to comment on her status.
In addition, Iman will also replace Rowland as a regular member of The Fashion Show's judging panel.
"I am so excited to be joining the Bravo team and to be working again with Isaac Mizrahi, my close friend of many, many years," said Iman.
"I am also looking forward to all of the behind-the-scenes excitement and drama that is generated through the creative process of these undiscovered fashion designers. This will certainly be a show any follower of fashion will want to see."
Bravo is currently holding open casting calls for The Fashion Show's second season, which will follow a group of professional designers as they compete in a Project Runway-like competition to have their designs sold for the mass retail market.
The Fashion Show's second season is currently slated to premiere later this year.