NBC Entertainment chairman Bob Greenblatt made the announcement during a Paley Center panel, reported Deadline.
This will be NBC's fifth consecutive live musical, following "The Sound of Music", "Peter Pan", "The Wiz", and the upcoming "Hairspray".
The 47-year-old singer will also executive produce the live presentation with Elaine Goldsmith-Thomas, Benny Medina, Craig Zadan and Neil Meron.
"Broadway musicals and films fueled my childhood and 'Bye Bye Birdie' was one of my favorites. I'm proud to be a part of the NBC family with 'Shades of Blue' and I thought it would be a blast to take on one of their big live musicals," Lopez said.
The story was inspired by Elvis Presley and his induction into the Army in 1957.
"To have a superstar like Jennifer Lopez starring in this classic show, which every high school in America has done, will ensure that our holiday musicals continue to be must-see events for the whole family," said Greenblatt.
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