Riggle is best known as a correspondent on "The Daily Show." His film credits include "21 Jump Street," "The Lorax," "The Hangover," "Step Brothers" and "The Other Guys."
The 2012 ESPYs will be televised live July 11 on ESPN/ESPNHD from the Nokia Theatre at L.A. LIVE.
"Rob's diverse background and comic style will bring new elements to the show and we're looking forward to an entertaining show that will speak to the core sports fan," ESPN's executive vice president of programming and acquisitions, Norby Williamson, said in a statement.
"We always strive for the ESPYS to represent the voice of the fan so we chose Rob to host this year's show because his love and knowledge of sports combined with his sharp wit and creativity will set a tone for the show that will resonate with our viewers," said Maura Mandt, the show's executive producer. "Since this is our 20th ESPYS, we're looking to create new, fresh and memorable moments and Rob is the perfect host to do that."
"Why me? Straight-up sex appeal. I know guys like [former ESPYs hosts] Justin Timberlake and Seth Meyers are sexy. ... What can I say, I'm just another link in that sexy chain," said Riggle. "I couldn't be more honored to be the host of the ESPYs. I just hope they let me do my karate demo."