In the eighth season of the series, which will be based in Los Angeles, 16 celebrities "will compete in challenging, business-driven tasks more focused than ever on technology and innovation, testing their ability to work together as a team" to raise money for and promote their favorite charities.
Among the contestants: singer Boy George, comedian Jon Lovitz and reality TV personality Nicole "Snooki" Polizzi.
For decades, Buffett kept a low profile in Omaha, Nebraska, as he built Berkshire Hathaway. In recent years, as the company has become increasingly successful, Buffett has been much more comfortable putting his humor and folksy, plain-speaking personality on display.
His question-and-answer session at Berkshire's annual shareholder meetings now draws tens of thousands of people, and he has made many live appearances on CNBC and other television news outlets.
Buffett has also been a cartoon character for the last seven years on the children's' television show "Secret Millionaires Club."