The Celebrity Apprentice star will question the GOP candidates at a Newsmax forum in Des Moines, Iowa on December 27.
The debate will come just a few days before the Iowa caucuses on January 3, 2012, which could determine a Republican frontrunner.
A complete lineup for the forum has not yet been announced, but Representative Ron Paul and former Utah Governor John Huntsman have already confirmed that they will not attend.
The Trump-moderated event will air on the Ion television network.
Trump previously considered running for president himself as a member of the Republican party, but bowed out of the race in May because of his commitment to The Celebrity Apprentice.
The mogul has been an outspoken critic of US President Barack Obama, insisting earlier this year that Obama feared his possible candidacy.
> Donald Trump accuses Jon Stewart of "racist rant" - video
Watch Barack Obama respond to Donald Trump's criticism at the White House correspondents' dinner below: