The former T4 and X Factor USA host will front the eight-part series, which follows the lives of six young people living in an apartment in east London and looking for love.
Steve said: ''The first think you ask when you meet a new couple is, 'How did you meet?' because it's fascinating. So with this show, if we can actually show a genuine meeting of two people who go on to be together beyond that, I think that's definitely worth watching.
''I'm fascinated by it. I can't wait.''
Throughout the week the singletons will each go on a date, which will be filmed on camera. Then, Steve and the house of singles will watch their dates back live with viewers at home, re-living every kiss, cringe or car crash date.
In another twist, members of the public will also be able to put themselves forward to take one of the contestants out on a date.
Young, Free and Single: Live will air on E4.
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