This announcement comes two years after McDonald's unveiled their all-day breakfast, which has seemed to lure people back to the fast food giant.
In the past few years they have also launched McCafe coffee shop locations, and in 2016 the company revealed that it would start sourcing antibiotic and cage-free chickens.
The restaurant chain has also started working with a mobile ordering system, catching up to giants like Domino's and Starbucks.
But none of these changes really had the same magic as the dollar menu.
While details are scarce on what the menu will include, you can be sure that cheesburgers, fries and other basic menu items will somehow be involved.
“You have to have some everyday value because a decent portion of that business is very price-sensitive,” said Michael Halen, an analyst at Bloomberg Intelligence.
Here's hoping for all-day $1 McGriddles!
What is your favorite McDonald's Dollar Value menu item you hope to see?