The singer is said to have just finalised a one-year deal with Channel 4 to launch the programme in the summer.
'Peter's a natural and is delighted that Channel 4 will give him free licence to grill his guests in an irreverent way,' a source tells the Daily Mirror.
'It will be a late-night format aimed at the 16 to 30s. So he won't have to mind his Ps and Qs and can have some fun.'
Peter, 37 - who divorced Katie Price last year - already has experience interviewing celebrities as the showbiz reporter for This Morning.
'I can't comment,' his rep tells Now Online.
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