The Radio 1 DJ and T4 presenter impressed Simon Cowell and producers last year with his online spinoff The F Factor.
According to The Sun, Edmondson has now been given the ITV2 job as a replacement for Konnie Huq. He is expected to be joined by a female presenter and Frankie Sandford, Kimberley Walsh, Caroline Flack and Stacey Solomon are apparently the frontrunners.
Earlier this year, Edmondson spoke to DS about the possibility of presenting the spinoff show, but joked that Bobby Davro probably had as much chance of getting the job.
"As you know, The Xtra Factor job hasn't been given to anyone yet. It could be [Bobby] Davro, it could not be Davro. He's probably got as much chance as me," he said.
"It would be a shame not to do something this year, but like Louis Walsh, I'm going to say, 'I haven't seen a contract yet'."
> We chat to the man behind The F Factor
> Matt Edmondson hoping for 'X Factor' return
Watch Matt Edmondson talk about The Xtra Factor: