Of course, it doesn't exactly come as too much of a surprise.
"Jon Stewart will eat Bill O'Reilly's liver with fava beans and a nice chianti," the satirist and star of The Colbert Report told Good Morning America's George Stephanopoulos while guest hosting Tuesday's show about his Comedy Central comrade.
The showdown, which folks can watch via an Internet stream, will take place just three days after Barack Obama and Mitt Romney (you may have heard of them, too) go head-to-head in the first of three presidential debates.
While Colbert won't be moderating it, the comedian did offer up some insight as to how he would run things.
"I would make them do rock, paper, scissors to see who gets the first question because that would be fair," he said. "I would ask them if they wear boxers or briefs. Obviously, I would go for the big questions like that."
Here's hoping actual moderator Jim Lehrer will take a cue from Colbert!