The special run, which is expected to launch immediately after the conclusion of Big Brother 11, will see a group of fan favourites living together, completing tasks and being evicted one-by-one before viewers crown their winner.
Speaking to The Sun, Edgar-Jones revealed: "It's a bittersweet moment with Big Brother ending, but the Ultimate Champion will ensure we end on a high.
"As well as finding fans' favourite housemate, it will also be a trip down memory lane as they discuss experiences in the house. It will be a nostalgic treat for people who love the show and remind us why it was so great."
The show chief is reportedly planning to start approaching potential housemates tomorrow. Bosses hope that the programme will star "the best of the best" from Big Brother's history, meaning that former winners and other memorable contestants - some from the celebrity version - will be invited to take part.
Edgar-Jones added: "Some old faces have been asking for weeks if we're bringing them back, saying they want in. Billi Bhatti and Nikki Grahame have both been asking."
Big Brother 11 launches tonight at 9pm on Channel 4.