Insiders says his cheeky sense of humor is perfect for the show and that he will forge a fresh equation with the judges and contestants.
Ranvir, who featured in films like "Khosla Ka Ghosla" and "Pyaar Ke Side Effects" is a die hard fan of the show's judge and actress Madhuri Dixit.
The two have previously worked together in "Aaja Nachle" and Ranvir is looking forward to interacting with her once more.
"Jhalak..." will be aired on Colors and a source close to the show said: "Looking at his fantastic comic timing during stressful situations in 'Khatron Ke Khiladi', we thought that Ranvir would be the best choice for 'Jhalak'."
"The creative team is certain that he would do absolute justice to the show as an anchor. He shares an excellent camaraderie with all the contestants as well as the judges. When we approached him with the offer, he was equally excited to take up the project and get groovy on the floor. People have known Ranvir for his comic timing, acting prowess. Then he showed his 'khiladi' side to the world. Who knows, now the viewers might get to see him shaking a leg as well."
After finalizing Ranvir, the makers are on the look out for a female co-host this season.