The former Black Sabbath singer and his better half, Sharon, will be hosting the ceremony, which will be televised live from London on February 20.
The two were asked after the event’s organisers decided not to hire Russell Brand again, who hosted the last Brit Awards.
Sharon Osbourne said, "Ozzy and I have been asked to host many awards shows in the past but this is by far the most prestigious and meaningful, especially for Ozzy as it’s about the music."
The biggest music gala in the United Kingdom will have co-hosts of opposite sexes for only the third time in nearly 20 years. The nominees for awards will be announced on January 14.