Stewart is expected to step down from the hosting gig sometime between July and the end of the year, according to Variety.
Noah, a South African comedian and one of the newest "Daily Show" correspondents, was mentioned Friday as the front-runner to replace Jon Stewart on the Comedy Central show. On Monday, The New York Times reported that Noah would officially take over hosting.
He is the first African to hit mainstream TV in America as the official host.
Beyond "The Daily Show," Noah is also well-known in South Africa from hosting his own late-night talk show, a handful of radio programs and the South African Music Awards. The 31-year-old also headlined a Showtime stand-up special last year and was the first South African comedian to appear on "The Tonight Show" and "The Late Show with David Letterman."