The IT Crowd star Ayoade has now filmed nine series of the travel show, with his last set of episodes due to be broadcast on television later this year.
Lycett will then take over as host, with his debut series due to air in 2020.
Talking about the format Channel 4 explains: "Each episode takes a sideways look at how visitors might spend 48 hours in some of the world's most popular mini-break destinations - and for each trip the Travel Man is joined by a well-known travel companion. Richard has previously explored over 40 cities including Copenhagen with Noel Fielding; Hong Kong with Mad Men actor Jon Hamm; Athens with Dawn French; Brussels with Lee Mack; Venice with Jo Brand; St Petersburg with Rob Beckett; and Florence with Hollywood actor Rebel Wilson."
Lycett has previously appeared as a guest on the programme, accompanying Ayoade on a mini-break to Amsterdam (pictured).
The stand-up comedian has been building up experience as a TV presenter, with his CV including BBC One comic gameshow The Time It Takes and BBC Two's The Great British Sewing Bee. His latest show was 'consumer justice' series Joe Lycett's Got Your Back, for Channel 4.
Lycett continues to present Radio 4 panel show Joe Lycett's Obsessions, which is recording a second series soon. Meanwhile Richard Ayoade retains his role as the presenter of The Crystal Maze, also for Channel 4.
Talking about his new job, Joe Lycett says: "I'm beyond excited to take over the brilliant, charming show that Richard has nurtured. I'm less excited about the number of times I'm going to have to take off my shoes at Birmingham Airport."
Here's a clip from the 2017 episode in which Lycett appeared alongside Ayoade:
Previous episodes can be watched on All4
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