Godfrey will be the 10th caddie Ko has used as a professional.
Ko's time as a teenager officially ends Monday, when she will turn 20 years old.
Ko's latest ex-caddie fired a departing shot at the Kiwi world number one last week saying she needs to 'wake up on caddie-player relationships'.
Ko parted ways with Gary Matthews after just nine events together. The axing came after Ko produced her best result of the year with a second placing at the Lotte Championship.
Ko's finish at the Hawaii tournament was her best finish since last July, and was her fifth top 10 finish in the nine events working with Matthews.
Matthews revealed to Golf Digest that he was told of his firing before the last event and said communication in the Ko camp was non-existent.
"In all honesty, there is no communication in the whole camp. You never know anything or are told anything," Matthews told Golf Digest.
"The agent [Michael Yim of IMG] called me on the Monday after Palm Springs and said, 'She needed a change, we're going with somebody else, but you can caddie in Hawaii.'
"I'm like well, never in 19 years have I been fired, and I'm still working for the person. What was so strange for me, we worked unbelievably well in Hawaii, the communication and everything was just phenomenal."
Before hiring Matthews, Ko had gone through multiple caddies. She had a slew of bagmen in her rookie year, before winning 10 times in two years with Jason Hamilton - her longest stint with a caddie - during her rise to world number one.
Matthews said the firing was a bit a shock as he thought he'd done a good job since taking on the role.
Ko has been world number one for 77 successive weeks, despite her lead atop the world rankings being closed of late by rival golfers So Yeon Ryu and Ariya Jutanugarn.
Lydia Ko's caddies as a professional:
Michael Henderson
Scott Lubin
Mark Wallington
Steve Kay
Domingo Jojola
Mike Cowan
Greg Johnson
Jason Hamilton
Gary Matthews
