The former politician and movie star will be taking over for Donald Trump, who stepped down to focus on his presidential run.
Paul Telegdy, President, Alternative and Late Night Programming, NBC Entertainment, said in a statement, "We are thrilled to be opening a powerful new chapter in the story of the 'Apprentice' franchise. Arnold Schwarzenegger is the epitome of a global brand in entertainment and business, and his accomplishments in the political arena speak for themselves. It was Arnold’s personal passion for the format that Mark Burnett and Donald Trump built over the last decade, as well as his fresh take on how to take it to new heights for today's audiences, that made him the man to hire. 'The Celebrity Apprentice'… will be back!"
The show will also be relocating to Los Angeles from NYC, according to TMZ.