BRITs bosses hope the 58-year-old rocker and his outspoken wife will bring a touch of "rock'n'roll, glamour, humour and the unexpected" to the ceremony on February 20 and the couple are "honoured" to have been chosen for the role.
'X Factor' judge Sharon, 55, 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.
"Ozzy and I are proud to be Brits and are both incredibly honoured to have been asked to help celebrate the best in music."
The ceremony will broadcast live on ITV, but will have a five second delay to allow producers to bleep out the inevitable barrage of swearing from the notoriously foul-mouthed couple before the 9pm watershed.
After 9pm, the ceremony will be screened completely live.
It will be just the second time TV producers have taken the gamble since 1989, when hosts model Samantha Fox and Fleetwood Mac's Mick Fleetwood provided one of the most shambolic performances in the ceremony's history.
The first time it was broadcast live since the fiasco was this year, when comic Russell Brand took over hosting duties.
Despite being largely regarded as a success, Russell still sparked more than 500 complaints when he made risqué references to "intimate parts of the human body", drugs, Iraq and Queen Elizabeth and swore before the watershed.
It has also been reported organisers for next year's event are desperately trying to get troubled 'Rehab' singer Amy Winehouse to perform at the glitzy ceremony.
Other acts expected to take to the stage at London's Earls Court include Take That, Rihanna, Kate Nash and the Klaxons.
TAGS: Music Ozzy OsborneBRIT Awards