23-year-old Kate Perry, whose single I Kissed A Girl celebrated more than five million worldwide sales, is also nominated in two categories at this year's event at the Liverpool Echo Arena.
They are best new act and most addictive track.
It is the first time that the singer has acted as host at an awards ceremony, MTV said.
"Katy Perry has been one of the freshest and most successful new artists to emerge on the international music scene this year which is witnessed by her nomination in two categories in this year's awards," said producer Richard Godfrey.
"We want to pursue a much more informal and relaxed role for the host at this year's awards, but with a definite musical twist and we think Katy will be perfect."
Perry said: "To follow in the footsteps of previous hosts Christina Aguilera, Tom Jones, P Diddy and Snoop Dogg at this prestigious event is an incredible honour - do they know what they are getting into?
"I just hope that I don't spill my cocktail."
The celebrity awards presenters will include Grace Jones, Solange Knowles - sister of Beyonce, who is both performing and nominated at this year's ceremony - Sugababes, Tiziano Ferro, Tokio Hotel - nominated for best act ever - and Travis from Gym Class Heroes.
The 2008 MTV Europe Music Awards is taking place on November 6.
