The "Scream Queens" star will join comedian Joel Kim Booster to bring back MTV's hit 1990s series, on which contestants try to find love.
This time around, the show will feature a modern twist as the main dater is connected with a "pool of diverse singles through social media", with potential suitors "of all genders and sexual preferences", according to studio officials.
"Singled Out" will premiere with 20 episodes on upcoming streaming platform Quibi next year (20), and Palmer, who is already a co-host on U.S. daytime show "Strahan, Sara and Keke", cannot wait to play matchmaker.
"I am thrilled to be hosting 'Singled Out'," she shares in a statement. "To be able to reimagine this show for my generation and on a new platform is so exciting."
"Can't wait for you guys to see what we have in store!"
Jenny McCarthy and Chris Hardwick served as the presenters when the series originally launched back in 1995, while Carmen Electra later replaced "Scary Movie 3" star McCarthy as co-host until it wrapped in 1998.
"Singled Out" was last reworked for a 2018 run on MTV's YouTube channel.