The former owner of the Daily Telegraph recently served a three-year sentence in Florida for defrauding the investors of his company Hollinger International.
The Guardian reports that the Canadian businessman will appear in the third episode of the current series of the satirical news quiz. The episode will be hosted by Alexander Armstrong, and will also feature Victoria Coren as a guest panellist.
At the peak of his success, Black owned an estimated fortune of £136m, residences in London, Florida and New York, and two private jets.
His wife Barbara Amiel once famously told Vogue that she possessed an "extravagance that knows no bounds".
In 2007, Black was found guilty of defrauding Hollinger International, by diverting funds due to the business when the company sold certain publishing assets for his own personal benefit. He was also found guilty of numerous other irregularities and for obstructing justice.
Conrad Black's episode of Have I Got News For You will air on BBC One at 9pm on October 26.