Olly Murs is releasing a new album next year. Yippee!

Olly Murs fans everywhere can rejoice in the news that he will be releasing a brand new album next year.

Wahoo!

The new X Factor host has revealed that once the show has finished, he will be returning to the music scene with his fifth LP.

He will be joining the talent show for its 12th series, making it his priority once he has finished promoting record number four, Never Been Better.

"I'm going to be in the studio in the next couple of weeks doing bits and bobs,” Olly told Digital Spy.

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"The album is out so we'll see how that goes - we're still promoting that at the moment.

"Obviously I'm focusing on X Factor as well, so we'll juggle both up until Christmas.

But next year is when we'll probably do the next album, definitely."

Well this is fantastic news and we literally cannot wait until the fine specimen himself graces our screens.

Joining him is presenter Caroline Flack and together they will replace the position that Dermot O’Leary has held since just about forever.

But the big question on everyone’s lips is, who is on the judging panel?

Apparently Mr Murs thinks Rita Ora would do a good job.

Talking recently, he said: "I'll be honest. I think Rita would be a good one because she's done The Voice."

Hmm… we shall see.