This year's edition of the show will see Willoughby host alongside Stephen Mulhern, having previously began working together 20 years ago, presenting children's TV show Ministry of Mayhem, which was later renamed Holly & Stephen's Saturday Showdown.
Stephen Mulhern will replace Philip Schofield, as co host of Dancing On Ice. Schofield who had presented the skating competition alongside Willoughby for the last 16 years, left ITV earlier this year, having admitted to an "unwise but not illegal" affair with a younger male colleague from This Morning.
Dancing On Ice will also see Holly Willoughby make a return to television, for the first time since he left This Morning in October, after 14 years, following revelations of a plot to kidnap and murder the presenter.
"Holly and Stephen are two of our best loved presenters, so reuniting them 20 years after they first appeared on screen together to host Dancing On Ice marks the start of an exciting year for the show", Katie Rawcliffe, head of entertainment commissioning at ITV said.
The show which begins in January, will also see Coronation Street actress Claire Sweeney, former world champion boxer Ricky Hatton, West End star Amber Davies, singer Hannah Spearritt, and Olympian Greg Rutherford among the stars who will take part.
Another Olympian Eddie 'The Eagle' Edwards, will also feature on the show, replacing former Gogglebox star Stephen Lustig-Webb, who was forced to pull out, after breaking his ankle during ice skating training.
Other stars featuring also include, actor Ryan Thomas, comedian and writer Lou Sanders, TV personality Miles Nazaire, and Emmerdale's Roxy Shahidi.
Judges Ashley Banjo, Oti Mabuse, will also return to the show, alongside Jayne Torvill and Christopher Dean.
Dancing On Ice will return to ITV in January.