The Prince of Wales, founder and president of the trust, will also attend the event in May, which celebrates the achievements of young people supported by the charity.
Famous names from the worlds of film, television, music and sport will be on hand to present the prizes.
McPartlin said: “It’s an absolute privilege to be involved in the Prince’s Trust Awards again this year and to be hosting it for the 10th time.
“It is always so inspirational to hear from these young people who through pure determination and against all odds have come out fighting and achieved so much.”
Donnelly added: “We’re honoured to play a part in the amazing work of the Prince’s Trust.
“The young people celebrated at the Prince’s Trust Awards have shown real strength, commitment and dedication and are proof that the support offered by the trust really is life changing.”
The Prince’s Trust helps young people from disadvantaged communities as they develop skills and confidence.
Founded by Charles in 1976, it supports 11 to 30-year-olds across the UK who are unemployed, struggling at school or at risk of exclusion.
Martina Milburn, chief executive of the trust, said: “Since 1976, the Prince’s Trust has championed the immense potential of young people and supported them to gain the skills and confidence they need to succeed.
“Each year, the Prince’s Trust Awards allows us to celebrate the achievements and admire the resilience of young people across the UK and internationally.
“It is with great pleasure and pride that this year, for the first time, we are able to broadcast the awards on ITV.
“ITV is the perfect partner to tell the incredible stories of the young people we support and to bring the awards show to a new audience.”
The awards will take place in May and air later that month on ITV and the ITV Hub. It will be produced by Lifted Entertainment, part of ITV Studios.