Olly is set to present the show alongside Caroline Flack. The former Xtra Factor presenters will make the leap from the spinoff show to main stage!
The duo replace Dermot O'Leary, who stepped down after eight years. Dermot has already congratulated the pair, asking them to "be gentle" with the show.
The eternally cheery Olly has a few encouraging words in the clip:
"This year I'm back on The X-Factor, and I want you to be a part of it. Five years ago I made the decision to audition and it changed my life forever."
Olly lost out to winner Joe McElderry, but that hasn't turned out to be such a bad thing!
Olly then encourages the public to audition, before asking "What are you waiting for?"
A 'singing ability' would be how most of us would reply to that question, although as we all know, the inability to hold a tune has never stopped people from appearing in front of the judges...
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