The 40-year-old British model and actress will present Project Catwalk, to be aired next year, in which 12 unknown designers will be given a number of fashion-themed tasks as they battle it out for a career in the industry.
The show's panel of established designers and journalists will draw up a shortlist of three contestants who will go on to showcase their designs on the catwalk during London Fashion Week in 2006.
A source says, "Elizabeth has been the face of Estee Lauder for 11 years and it's hard to think of anyone who knows as much about the fashion industry as she does.
"Project Catwalk is unlike other reality television shows where people only have to be able to breathe to qualify as a contestant.
"Everyone taking part in this programme has a genuine passion for fashion."
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