The 73-year-old, best known for playing Harold Bishop in the Australian soap, will join the reality show next week.
According to The Sun, the actor will set the jungle stars a set of challenges, without performing any himself.
"Ian is a lot of fun and will bring some real Aussie charm to the show," an insider said. "He can't wait to get started with filming."
David Walliams's ex Emily Scott arrived in camp on Friday possibly providing a love interest for TOWIE's Mark Wright.
I'm a Celebrity continues tonight at 9pm on ITV1.
> Read Digital Spy's interview with Ian Smith
Watch Ian Smith play the Neighbours theme below: