The ceremony will be broadcast live from MGM's Grand Garden Arena in Las Vegas and will air at 8 p.m. ET/PT on CBS.
"This is an incredibly special moment for me. I am humbled that Reba invited me to co-host the awards with her," Shelton said in a statement. "You will definitely have to tune in and check it out. With the two of us together on live TV, you never know what we might say."
This marks Shelton's first awards hosting gig. He has been nominated for three awards and won his first for vocal event of the year for "Hillbilly Bone."
McEntire has won 12 awards, including seven for top female vocalist and the first Academy of Country Music/The Home Depot Humanitarian Award for her philanthrophy work.