The talk show host posted a YouTube video following Monday night's cast announcement to tell fans that she is "terrified" at the prospect of hitting the dance floor but hopes to channel the spirit and success of Alley.
Lake told fans in the video: "I am not a trained dancer, I have no idea what I'm doing! I hope to channel Kirstie Alley because she was a big inspiration to me last season. She looked amazing. She's a beautiful dancer and I hope I do half as well as she did."
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Alley was partnered with Maksim Chmerkovskiy on the 12th season of Dancing with the Stars, eventually finishing runner-up to Hines Ward in the May finale. Actress Chelsea Kane was placed third.
Lake also described Alley as an inspiration during an appearance on today's Good Morning America alongside fellow contestant David Arquette, when it was pointed out that she had been in the audience for last season's finale.
"They had asked me [to do the show] before and I wasn't able to do it then," she said. "Watching the physical transformation of [Kirstie Alley] and seeing something happen internally to her was really inspiring."
Lake added that signing on for Dancing with the Stars was a "huge undertaking" but said that she is determined to "give it [her] all" and make her professional partner proud.
Other celebrities who will battle for the Mirror Ball Trophy this season include Nancy Grace, Ron Artest, Kristin Cavallari and Rob Kardashian.
Dancing with the Stars returns Monday, September 19 at 8/7c on ABC.
Watch more of Ricki Lake and David Arquette on GMA below: