The decision comes just six weeks after the cable network initially cancelled the popular dramedy, causing an uproar among its loyal fanbase.
According to the site, Lifetime decided to move forward with Season 5 after producer Sony Pictures TV found a new financial model that was feasible for both sides.
The fourth season of the Brooke Elliott-led series wrapped six months ago and averaged over 2 million total viewers. The season four finale reached a season-high of 2.76 million viewers and ended on a cliffhanger.
"Drop Dead Diva" creator Josh Berman credits the show's loyal fans with getting the hour-long series uncancelled.
"I believe the fans saved the show," Berman told TV Line. "When we were cancelled, we trended on Twitter, off and on, for days. Tens of thousands of fans signed petitions for the show to be brought back. Our Facebook numbers grew, and fans posted homemade videos on YouTube in support of 'Drop Dead Diva.'"
He added, "I’ve been fortunate enough to work on several popular shows, including 'CSI' and 'Bones,' but the fan base for 'Drop Dead Diva' is nothing like I’ve ever seen. I’m grateful for such loyal fans."
He went on to assure viewers that the show will look and feel the same despite some "creative financing," and confirmed that the fifth season will premiere later this year.
The rest of the network's lineup includes the upcoming seventh season of a retooled version of "Army Wives," Season 2 of Jennifer Love Hewitt's "The Client List," new series "Witches of East End" and the debut of "Devious Maids," which is expected to premiere later this year.