Patrick told "Good Morning America" earlier in the day that she was flattered to be asked.
Past hosts have included former NFL quarterback Peyton Manning, Justin Timberlake and Samuel L. Jackson.
"This is such a huge honor. At the end of the day, I love a challenge and I love sports, [and] those are two things that come together to host the ESPYs," Patrick said. "It’s our only show! So, I love it, I love meeting all the different people and hearing all the stories. I truly leave the ESPYs every year and think to myself, ‘I am so inspired, I feel like I suck.’ Because everybody has such a great story. I want to be one of those stories!”
The ESPYs are an annual event meant to recognize athletic achievements and other sports-related moments from the previous year. This year's show will take place on July 18 and will be broadcast on ABC. Patrick told "Good Morning America" that she has her fingers crossed that she'll be able to make her fellow athletes laugh during the show.
"Hopefully somebody can help me write a good joke!" she said. "[But] at the end of the day, it's about honoring those who have had an amazing year."
Hear more from Patrick tonight on “The Tonight Show Starring Jimmy Fallon” at 11:35 p.m. EST.