The show is based around 16 guys and girls who head to a secret tropical island to compete for love and $100,000 in prize money.
Matilda, who herself found love on TV's on 'The Bachelor', is excited to be stepping into her first hosting role.
"I feel like I'm living proof that you can find love on a reality TV show and to be honest, I can't wait to be on the other side this time! I'm really excited to meet the contestants and see how it all pans out."
Mark Dye, 31, was with Newstalk ZB for two years until he decided to resign to pursue his dreams of travelling.
"I'm stoked to be hosting the show alongside Matilda. I'm a massive fan of travelling and new experiences so signing on to host the show was a no-brainer. How could anyone say no to spending six weeks on a tropical island, hanging out on the beach and watching (no doubt) untold amounts of drama unfold. Not me!"
No official date has been set for Heartbreak Island, however it will screen in 2018.