McDonald's Corp had discontinued its popular Dollar Menu in 2013 after the franchisees saw that selling a food item like a cheeseburger for just one dollar set back the profits.
"The "$1 $2 $3 Dollar Menu" will become a permanent part of the McDonald's nationwide menu starting January 4, the Oak Brook, Illinois-based company said.
The dollar menu to be re-introduced next year are due to hit stores on 4 January and reports from McDonald's say that it includes soft drinks and cheeseburgers be it any size for $1.
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The new menu will have a wide variety of options for the three price points.
McDonald's executives in October said nearly all of its USA operators support its ongoing turnaround plan that includes the new value menus.
The strategy is not without risks, said Goldin, who noted that rising food and labor costs could squeeze franchisees who bear the brunt of such cost increases.
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They will supplement McDonald's current value offers such as McPick 2 where customers can pick two items from a list for $5 - including Big Macs, fish filets and 10-piece chicken nuggets.
McDonald's USA president Chris Kempczinski reportedly said, "We have lost a number of our customers over the last few years because we didn't have a compelling value proposition. This is a competitive market".
Offering cheap eats has become a winning strategy for the world's largest hamburger chain, and a way to fight off other low-cost chains. In September, the company revamped its McCafé brand, adding new hand-crafted coffee drinks.
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