KATHIE LEE GIFFORD may get her old job back as REGIS PHIILBIN retires.

The ENQUIRER has learned that the 58-year-old TV host and singer is being considered to replace Regis when he retires from his long-running morning talk show on ABC.

Kathie Lee, who worked with Philbin for 15 years on “Live” from 1985 to 2000, is currently co-hosting the popular fourth hour of NBC’s “Today” show with Hoda Kotb.

“ABC would love to get Kathie Lee back in the hosting seat on ‘Live,’ ” an insider confided.

"Out of all the replacements that have filled in for Regis, no one comes close to the buzz that Kathie Lee would generate.

“The ‘Today’ show ratings when Kathie Lee is on the air are always consistent – that’s why ABC wants her back. It’s all about the bottom line – and Kathie Lee and daytime television equals ratings.”

Regis, 80, announced that his last day on “Live” would be Nov. 18.

Kathie Lee is under contract with NBC, but she is always up for a new challenge, and “Live” holds a special place in her heart.

“Kathie Lee would love noth­ing more than to be able to do both shows, but unfortunately they compete against each other in many markets,” noted the insider.

 “Then again, she is always joking that contracts were made to be negotiated … so stay tuned!”