Also taking part in the ceremony will be former Olympians Kurt Browning, Dorothy Hamill, Scott Hamilton, Katarina Witt and Kristi Yamaguchi.
The festivities will take place at the University of Utah stadium above downtown Salt Lake City. Tickets prices for the event range between $320 and $885, reports MTV.com.
In keeping with the "Light the Fire Within" theme, fireworks will spread from the stadium throughout Salt Lake City and include an ultraviolet light production number which will turn the arena into a large black-light area.
Along with the fireworks, there will be a party for the athletes and a nod to the 2006 Winter Games in Turin, Italy.
More performers will be announced in the weeks to come.