"I've been governor twice in California, and now to go and go to this is terrific for me. And for him, it's great to go from this to politics," Schwarzenegger, now six years removed from office, told ET. "The bottom line is, the country, America, where do you have the possibilities to do that many things? Only in America."
Schwarzenegger will preside over The New Celebrity Apprentice as the franchise's first host heads to the Oval Office.
"I'm 68 years old and this is a whole new challenge -- something that I've never done before, so this is really wonderful," Schwarzenegger said. "And I think with the characters that they've picked there will be major drama."
This season's roster of celebs includes includes Laila Ali, Brooke Burke-Charvet, Eric Dickerson, Boy George, Matt Iseman, Carrie Keagan, Carson Kressley, Lisa Leslie, Jon Lovitz, Vince Neil, Nicole "Snooki" Polizzi, Kyle Richards, Chael Sonnen, Porsha Williams, Ricky Williams and Carnie Wilson.
Snooki told ET she's ready for America to see another side of her through the show.