Ex-TV Burp comic Harry Hill acts as an executive producer on the Saturday night format which will mix clips, sketches and impressions.
England manager Roy Hodgson and ex-footballers-turned-pundits Robbie Savage and Gareth Southgate are among the sports stars McGowan will impersonate, as the programme coincides with Euro 2012.
The Big Impression star will also assume the characters of celebrities Jessie J, Peter Andre and Louie Spence.
McGowan said: "I've always had more feedback about my impressions of sport stars than anyone else and it's been brilliant to be working on a new generation of people we see on TV all the time.
"This show won't just be for the sports nuts though and I'm really looking forward to putting some surprising showbiz faces into the middle of it all too."
McGowan and Hill have previously worked together on BBC Radio 4 show When Harry Met Ally back in 1992.
You Cannot Be Serious!, produced by Clyde Holcroft (Fantasy Football) and directed by Paul Wheeler (Have I Got News For You), premieres on Saturday, June 2.
Watch Alistair McGowan impersonate Dale Winton on the BBC's Big Impression below: