Simon Cowell has teased he is about to announce the final judge for The X Factor panel, and confirmed it will be a woman.

The music mogul revealed at a fundraising event for the Health Lottery that he has finally chosen who will sit alongside himself, Cheryl Cole and Louis Walsh for the 11th series of the ITV talent show.

Simon said: “We’ve settled on someone and we’re going to make an announcement this week. It’s a female.”

The X Factor boss explained why it has taken him such a long time to pick the last judge.

“It’s not just finding a name, it’s someone who’s going to do the job,” he said. “They’ve got to really commit to the artists and that’s why it’s been a long decision.”

A string of names have been linked to the position and Spice Girl Mel B is rumoured to be the frontrunner. She has been a guest judge on the panel before and worked as a judge and mentor on the Australian version of the show.