Alyssa Milano, Billboard Music Awards

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Prepare to be charmed by Project Runway All Stars' new host!

Alyssa Milano is set to host the upcoming third season of Lifetime hit fashion-design competition, the actress confirmed during an appearance on Live With Kelly and Michael. "I'm so excited about doing the show," Milano said of her new gig.

Milano, whose new series Mistresses debuts tonight on ABC, replaced Carolyn Murphy as the series' host, who took over for Angela Lindvall after season one.

Though she's known for her work on hit TV shows Charmed and Who's the Boss, Milano is no stranger to the fashion world: She has her own clothing and jewelry line, Touch by Alyssa Milano.

Judges Isaac Mizrahi and Georgina Chapman will both return for season three. Though season three's returning competitors have yet to be unveiled, the series goes back into production later this month and is expected to premiere in the fall.

The Hollywood Reporter first reported news of Milano joining Project Runway All Stars.

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