Deal or No Deal is set to return to the UK with Stephen Mulhern as host

Iconic game show Deal Or No Deal will soon make its triumphant return to British TV screens, screening this time on ITV instead of Channel 4.

ITV confirmed it will give the classic game show the revival treatment.

The show hit British TV in 2005 and ran for 12 years.

It soon became known for its famous for its red cases that contained a prizes from 1p to the epic £250,000 (AUD$460,000, USD$306,000) jackpot. The original show was axed by Channel 4 in 2016.

In that time, only nine people in total walked away from the show with the top prize of £250,000.

But the return of the classic daytime game show wasn't the only big news ITV had for fans.

The network also dropped a massive bombshell by revealing who would actually be presenting the much-loved game show.

So, if you will allow us a moment. Drum roll, please...

Rich Gold / Alamy

Stephen Mulhern will present the revived version of the television program.

The 45-year-old, who is known for presenting Britain’s Got Talent spin-off Britain’s Got More Talent and Catchphrase, revealed via a statement that he was 'beyond excited' to be hosting the new version.

"Wow, what an opportunity. I’m beyond excited to be hosting the brand-new series," he said.

"I’ve always been such a huge fan of the show, so much so, I’ve been practising at home with small cereal boxes.

"It looks so simple but it’s an incredibly compelling game for both those playing and the viewers watching at home.

"It’s one of the greatest shows of all time and to be the new host is an honour.

"I can’t wait to get started."

ITV's head of entertainment commissioning Katie Rawcliffe revealed that the British TV channel was thrilled to welcome the game show to the ITV family.

"Stephen’s infectious warmth and wit mixed with his natural rapport with members of the public is the perfect combination for this much-loved TV series," she said.

Jim Wileman / Alamy

Joint managing director of Remarkable Entertainment Tamara Gilder echoed Rawcliffe's sentiment.

"We are thrilled to be bringing Deal Or No Deal back," she said, as per a statement.

“It’s an iconic format but now on a new channel with a new, fantastic host."

But there was one surprise still up ITV's sleeve.

"We also have a new Banker, but I’m afraid they’re even more awful than the last one," Tamara said.

Oof. We can't wait to see who it is.

If you want to take part so you can try to get your hands on some of that £250,000, casting for Deal Or No Deal is now open on the show’s website.