The 'Livin La Vida Loca' star is the first celebrity judge to be revealed for the programme, which aims to find the next big Latina boyband.
Ricky will also executive produce and manage the winning band.
In the press release announcing his appointment, he's described as the "most influential Latin music artist worldwide."
Ricky said: "I am very excited to be a part of this innovative programme, together with Simon Cowell. Our community needs musical projects in order to cultivate its talents; which is why I feel it's the perfect moment for a show like La Banda.
"There is so much talent to be discovered and I'm sure we'll find the next musical phenomenon with the help of not only the judges but also the fans."
La Banda will involve the biggest search is US Hispanic TV history in an attempt to find the Latino version of One Direction.
Simon said: "We are on a search for a world class band and we needed a world class judge and that's why I'm thrilled to announce Ricky Martin as our first judge on La Banda. I know Ricky and he is as excited and passionate as me about the show and I know he's going to do an amazing job."
The prize for the winning boyband is a contract with Sony Music Latin and Syco Music, which is home to One Direction. (So the winners will be in good hands!)
Auditions are open to boys aged 14 and older resident in the US and Puerto Rico.
For exclusive competitions and amazing prizes visit Reveal's Facebook page NOW!