This will be the first time Lohan will be on the show since 2006 -- with the stars' many troubles since then no doubt making up some -- if not the majority -- of the night's joke fodder.
Lohan and NBC tweeted confirmation of the gig.
"SNL! I love @NBC !!!!!!!!!!!!!" Lohan tweeted after the NBC show revealed in an on-air promo and Twitter posting that she would host its March 3 episode.
"That's right: March 3rd, @lindsaylohan with musical guest Jack White!! See you then! #SNL #March3rd," the show tweeted.
Perhaps this is a sign that things are looking up for the troubled actress. Last week Lohan appeared in court for less than five minutes, and received her second good probation report in a row.
Lohan is currently doing court-mandated cleanup at the county morgue, as well as attending regular therapy sessions. So far, it seems to be working out.
"Just keep doing what you're doing," Superior Court Judge Stephanie Sautner told Lohan at the probation update. "You appear to be doing it well."
Could this, combined with the future 'SNL' stint mean LiLo's back in the game? We sure hope so -- you can only watch someone crash and burn for so long.