The awards show will take place in February at the Royal Festival Hall in the South Bank Centre.
Grant, who is known for roles in the likes of Withnail and I, Game of Thrones and Gosford Park said: "I feel hugely privileged to be hosting the EE Baftas for the first time and the opportunity to celebrate the very best of the extraordinary range of this year’s films.”
The 65-year-old actor will host the 76th year of the Baftas alongside This Morning host Hammond, who will present the Baftas Studios part of the show.
"I’m so excited to be hosting at this year’s EE Bafta Film Awards with THE Richard E Grant,” said the presenter.
"We’re going to have a lot of fun bringing the glitz and glam of backstage to everyone watching at home around the world,” said the 47-year-old.
"From hanging out with the stars to celebrating the biggest night for cinema, and joining the discussions with film fans, get ready for good vibes only,” she said.
Jane Millichip, Bafta chief executive said: “We are blessed to have a fantastic lineup of hosts for our 2023 EE Bafta film awards, all of whom exude wit, charm and warmth.”
Millichip is excited to have the British actor hosting the show: "Much-loved by our audience at home, Richard also commands huge respect from his industry peers.”
"And I can’t think of anyone better to complement Richard’s razor-sharp wit, and to helm our brand new Bafta Studio, than Alison Hammond, with her brilliantly entertaining and candid interview style," added Millichimp.
Meanwhile, Radio 1’s Ali Plumb and Vick Hope will be hosting the ceremony’s red carpet.
"I know we’re going to have a lot of fun bringing the glamour and anticipation of the arriving nominees to everyone watching around the world,” said Hope.
Last year Grant released his memoir A Pocketful of Happiness, titled from the sentiment of his late wife to find happiness in each day.
Grant has spoken openly about his grief after his wife died from cancer in 2021, saying he feels like a “turtle without his shell”.