Sports broadcaster Balding will chair proceedings alongside regular panelists Ian Hislop and Paul Merton when the satirical current affairs quiz returns to BBC One next month.
"We've got news for you: we're back!" read a post on the official Have I Got News for You Twitter feed.
"New series starts 12th October, with guest host @clarebalding1! Wonder what she got up to this summer."
Balding was an anchor on the BBC's team for the London 2012 Olympics, and also led Channel 4's coverage of the Paralympics.
She was recently named as the lead presenter for Channel 4's racing coverage and will start in her new role on January 1, 2013.
However, Balding will continue to work for other broadcasters including the BBC alongside her Channel 4 commitments.