Spencer, who was famously sent home from I'm A Celebrity...Get Me Out Of Here! in 2015, will be swapping loafers for ski boots and taking part in the Channel 4 show when it returns early next year.
According to Radio Times, Spencer will be joined in the snow by model Caprice Bourret, rugby legend and former Dancing On Ice star Gareth Thomas and fellow retired rugby ace Jason Robinson.
Earlier this month, Davina McCall confirmed that she will be returning as The Jump's host, adding that the lineup is "unbelievable".
Speaking with our colleagues at Digital Spy, Davina gushed: "It is a crazy, crazy show to be part of and our contestants are just the coolest, bravest people on television."
She added: "We've got an amazing lineup - an unbelievable lineup. And no, I can't tell you [who], but we have quite a few people set. They're crazy amazing people - I'm so excited."
Earlier this year, The Jump was caught up in controversy when seven of the show's contestants suffered an injury, with gymnast Beth Tweddle having to undergo surgery on her neck following a nasty fall.
Some deemed the show "too unsafe" for celebrities and had called for The Jump to be axed.
At the time, a spokesperson for Channel 4 addressed the backlash and said in a statement: "The Jump is now in its third series and, since launch, 46 celebrities have taken part successfully.
"Though it is a new course the events have been designed to be no more difficult than in previous years and all contributors have undertaken a rigorous training programme to prepare them for the show.
"All winter sports carry some element of risk, but in light of the number of injuries this year, Channel 4 has asked the producers to review safety procedures again to further reduce the prospect of accident."
The fourth series of The Jump will air on C4 in 2017.