"It's so exciting," Drescher said in the video, expressing her appreciation for her fans.
She said she received the news directly from TV Land president Larry W. Jones.
"We are thrilled that our viewers have embraced 'Happily Divorced' just like they did with 'Hot in Cleveland,'" Jones said in a statement. "It's fantastic that we get to keep working with Fran, this amazing cast and all of the talented writers on another season."
'Happily Divorced' premiered in June 2011. The series premiere and encore episode were seen by a total of 4.4 million viewers.
The series is based on Drescher's real-life marriage and subsequent divorce after her husband realized he was gay. John Michael Higgins and Rita Moreno also star in the sitcom.
AOL TV caught up with Drescher before the show's premiere and she said she wasn't nervous about putting too much of her self on screen.
"We always write about what we know anyway, and then it takes on its own life as a creation," Drescher said about the series.
Season 2 will be 12 episodes.
Look for new episodes of 'Happily Divorced' Wednesdays at 10PM on TV Land.