Miley Cyrus to Co-Host Second NBC New Year's Eve Party with Dolly Parton: 'It's Gonna Be Legendary'

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Miley Cyrus is coming back to NBC to ring in the 2023 new year — and this time, she's bringing her godmother Dolly Parton along!

On Monday, the network announced that Miley's New Year's Eve Party is returning to Miami for its second installment on Dec. 31 with Cyrus, 29, co-hosting alongside Parton, 76.

Featuring a lineup of to-be-announced musical guests, fans can only hope the former Hannah Montana co-stars join together for a performance during the show, which is produced by SNL creator and executive producer Lorne Michaels.

"Miley's New Year's Eve Party is about getting glamorous and dressing your best," said Cyrus in a promotional video released alongside the announcement.

RELATED: Miley Cyrus Says Dolly Parton Still Communicates 'Through Fax': 'She Has a Phone [and] Doesn't Use It'

Miley Cyrus to Co-Host Second NBC New Year's Eve Party with Dolly Parton: 'It's Gonna Be Legendary'
Miley Cyrus to Co-Host Second NBC New Year's Eve Party with Dolly Parton: 'It's Gonna Be Legendary'

Vijat Mohindra/NBC Miley Cyrus and Dolly Parton

"Well, we do that every day. Don't we, Miley?" replied Parton.

"You taught me well," the Plastic Hearts performer told the country icon, who then said of the show, "It's gonna be legendary."

In a press release, Jen Neal, Executive Vice President, Entertainment Live Events, Specials and E! News, NBCUniversal Television and Streaming spoke about the event.

"The inaugural Miley's New Year's Eve Party was an unqualified success and we know this year's show will be just as spectacular, with plenty of surprises and lots of fun," said Neal. "We can't wait to get the party started."

Miley Cyrus to Co-Host Second NBC New Year's Eve Party with Dolly Parton: 'It's Gonna Be Legendary'
Miley Cyrus to Co-Host Second NBC New Year's Eve Party with Dolly Parton: 'It's Gonna Be Legendary'

Vijat Mohindra/NBC Miley Cyrus and Dolly Parton

RELATED: Dolly Parton's New Christmas Special Will Feature Miley Cyrus and Jimmy Fallon as Guest Stars

The special won't be the first time Cyrus and Parton join forces this holiday season, as the "Wrecking Ball" hitmaker will also take part in NBC's Dolly Parton's Mountain Magic Christmas. Set to air Dec. 1, the festive show will also feature Jimmy FallonMiley CyrusWillie NelsonBilly Ray CyrusJimmie AllenZach WilliamsTom Everett ScottAna Gasteyer and Angel Parker.

Last year, Cyrus co-hosted Miley's New Year's Eve Party with Pete Davidson, and the show featured performances from the former Disney Channel star as well as Noah Cyrus, Jack Harlow, Anitta, 24kGoldn, Billie Joe Armstrong of Green Day, Kitty Ca$h, Brandi Carlile and Saweetie.

The 2023 iteration featuring Cyrus and Parton will air live on NBC and Peacock on Dec. 31 from 10:30 p.m.-12:30 a.m. ET.