Jagger will serve as the show's musical guest as well. The singer previously hosted the sketch comedy series in 1978 with the Rolling Stones.
The 68-year-old has also previously appeared on SNL in December 2001, when he made a cameo appearance during Jimmy Fallon's episode.
This Saturday (May 5) will see New York Giants quarterback Eli Manning take the helm, with musical guest Rihanna.
Will Ferrell is set to host the week after, with Usher performing.
Jagger's episode will air May 19.
Watch the video for will.i.am's 'T.H.E. (The Hardest Ever)' featuring Jagger and Jennifer Lopez below: