Brazier - who has two children with late Big Brother star Jade Goody - and ex-Atomic Kitten singer Frost will host regular slots on the teatime Channel 5 series, updating viewers on the latest developments from the Big Brother house.
It is not clear whether the pair will be presenting the whole show instead of Kate Walsh and Matt Johnson, or if it will just be a segment.
"I can't wait to present OK!TV. What a dream job!" Frost told the Daily Star.
Brazier and Frost will begin their stint on Monday, ahead of the Celebrity Big Brother launch on Thursday, August 18.
Brian Dowling and Emma Willis are the new hosts of the revamped Big Brother and spinoff series Bit On The Side.