The House of Cards actor has revealed that he will front the glitzy ceremony on June 11, joking that he wasn’t organisers’ first choice for the role.
“I was their second choice for Usual Suspects, fourth choice for American Beauty and 15th choice to host this year's Tony Awards,” he said in a statement.
"I think my career is definitely going in the right direction. Maybe I can get shortlisted to host the Oscars if everyone else turns it down.”
Spacey is no stranger to the New York award ceremony, having picked up a Tony of his own for his role in Lost in Yonkers back in 1991.
The prolific actor also has two Oscars, for American Beauty and The Usual Suspects, as well as a Golden Globe, a BAFTA and two SAG Awards.
He was the artistic director of London’s Old Vic for 13 years, directing two productions and starring in nine.
Spacey has a lot to live up to after Corden’s hosting skills drew an impressive 8.73 million viewers when it was broadcast last year.
After announcing the news, Spacey joked that he was hoping to avoid an epic Oscars-style disaster.
He wrote on Twitter: “Honored to host the #TonyAwards2017...fingers crossed all the envelopes are in order." Oh, the Oscars shade!”