Simon Cowell
Simon Cowell (Reuters)

Simon Cowell has confirmed he will make a return to the X Factor as a judge.

In a new three-year deal with ITV, the show will undergo a major revamp, with pop stars Cheryl Cole and Rita Ora hotly tipped to join Cowell on the judging panel.

The 54-year-old music mogul told Metro he had missed being part of the UK show.

"I will [return] at some point," said Cowell. "I still miss that. That show is my baby and that last year we did which was the One Direction year was the most fun I've had - it was fantastic. When I look back at the clips now and remind myself about it, it was a really cool year."

Cole joined Cowell as a judge on The X Factor USA, but the Girls Aloud singer was swiftly replaced by former Pussycat Dolls singer Nicole Scherzinger after US viewers struggled to understand Cole's Geordie accent.

The Promise This singer's departure from the show was reportedly acrimonious, but Cowell said that he and Cole have long since made up.

"Cheryl and I patched up our differences a long time ago," he said. "I saw her recently, we speak a lot on the phone and text each other, and I think both of us would like the idea of working together again.

"Apart from being cute she's a great judge and she knows what she's talking about and, oh my God, she wears her heart on her sleeve."

With Louis Walsh and Gary Barlow both quitting as judges when the current series ends in December, Cowell hinted at singer Rita Ora as a possible addition to the show as a guest judge.

"I met Rita at my house recently and I was really impressed with her and you just know she's a future star," he said.

While the ITV show has seen a drop in viewing figures to 3.6 million since Cowell's departure in 2010, and with BBC 1's Strictly Come Dancing ahead in the ratings war, the pop mogul said he has plans to reinvent the UK version of The X Factor.

"We've announced a new three-year deal in England," he said. "I've got some ideas of how the show is going to evolve and that's the fun of producing these shows - you can't just make the same show that you did five years ago."

The seventh X Factor live show on Saturday (23 November) will be a Best of X Factor themed special, with the remaining six contestants singing hit songs from past stars of the show, such as Leona Lewis and One Direction.

Former X Factor finalist and The Xtra Factor host, Olly Murs will perform on the night while JLS, Jessie J and Mary J Blige will perform on Sunday evening's results show.