"There is a lot of noise and conflict in our political discourse, which is fun to cover," King said in a statement.
“John embodies what we are striving for at CNN – he is steadfast in his objective and nonpartisan political reporting and has the passion for chasing down stories that really matter to Americans,” Klein said in an e-mail message to colleagues, obtained by The New York Times television and digital media reporter Brian Stelter.
King currently anchors "State of the Union," CNN's Sunday political show.
Dobbs announced on his show Wednesday night that he would be leaving Atlanta-based CNN after 30 years with the network.
Fox Business Network is considering adding Dobbs to its lineup, Stelter of The New York Times said.
Before anchoring "State of the Union," King was a senior national correspondent for CNN. He often appeared using his so-called "magic map," intended to aid viewers in understanding the election process and likely contributed to the increase in the network's ratings.
He joined CNN in 1997 after spending 12 years with the Associated Press.
Meanwhile, cable ratings have been a tense topic for CNN, which ranked third among cable news channels in the 7 p.m. hour in October, Nielsen Media Research showed. CNN has struggled in ratings, particularly in the prime-time slot -- a key time for advertising dollars -- since earlier this year, Nielsen figures show.
CNN is owned by Atlanta-based Turner Broadcasting System.