The Little Britain comic's latest venture joins Sky1's Friday night comedy lineup and will involve two celebrity teams tackling the biggest topics of the day.
Discussions will range from YouTube phenomenons to celebrity gossip. The programme is based around a giant wall featuring 25 new famous faces every episode, which will provide the talking points for the guests.
"I'm looking forward to taking control of the Wall of Fame, my new weekly, newsy, quizzy, gossipy entertainment show," said Walliams. "This may not be hard news but I shall nevertheless be taking my quiz master role most seriously... with lots of laughter."
The series, which has been commissioned by Duncan Gray, is produced by CPL Productions, the team behind Sky1's hit sports panel show A League of their Own.
Wall of Fame starts on Friday, June 17 on Sky1.