Wells and Williams will put the contestants through a number of bizarre, hilarious and often ingenious tasks, pushing them to the limits of comic invention.
The comedians are tasked with impressing "Taskmaster" Wells, who will be scrapping for his points and praise.
Taskmaster has proven to be a hit overseas. The show's format was created by British comedian Alex Horne, and is a comedy panel game show where comedians' wits are tested to the max.
Wells said he's "super excited" about the new role.
"I can't wait to judge a potpourri of New Zealand's favourite comedians, whilst being ably assisted by the dynamic, energetic enigma Paul Williams.
"It's also an opportunity to de-robe and head back into the sauna of comedy after a couple of years relaxing in the well patronised, infotainment-rich public spa of Seven Sharp."
Williams says the new role is a "dream come true" and he is a massive fan of the show.
"I know I have little Alex Horne's gigantic shoes to fill, but I will bravely accept this task. I can't wait for New Zealand to see the show, I think they will like it a lot. If they don't, I will personally accept full responsibility and move to Perth."
Edinburgh Comedy Award winner and NZ comedian Rose Matafeo starred on the ninth season of the UK show last year.
