The 39-year-old actor - who has attracted attention with his wild partying since recently announcing he had separated from wife Courteney Cox Arquette – was inspired to get involved with ‘Ranking The Stars’, which is based on a Japanese programme, because it forces celebrities to make fun of themselves.
Speaking about the show, he said: "A lot of my humour is from a self-deprecating place anyway. My flaws are what make me funny, and I have no problem letting people poke fun at that."
The show will ask a group of celebrities to rate one another on certain topics -such as secretly informing the paparazzi on their whereabouts or making a sex tape - from whether they are most likely or least likely to do them.
Executive producer Roy Bank thinks David is the perfect man for the programme.
He told Variety: "This show is all about celebrities hanging out for a bit and taking their guard down. David's whole persona is that. His honesty has bled through and it's come back to haunt him a few times. If there was ever a celebrity with a brand that matches the show, it's this."
Roy also revealed he hopes to have groups of celebrity friends or families such as the Kardashians on the show.
He added: "The more they know each other, the funnier it will be."