The 27-year-old singer is "delighted" to have been asked to perform at next month`s ceremony and has promised to don an outfit that people will remember forever.
He said: "I haven`t even discussed what I`m going to wear yet but I want to wear something pretty amazing on stage. Hopefully it`ll be something quite iconic.
"It`s going to be a really great show. I`m looking forward to performing on it, you know, it`s a pleasure and honour to be asked."
Olly released his second album, `In Case You Didn`t Know`, last November and is so thrilled by how well it has performed, he is already thinking about releasing a follow-up in the near future.
Speaking at the UK premiere of `The Muppets` at London`s Mayfair hotel on Thursday (26.01.12), he told BANG Showbiz: "The album`s doing really well. It`s gone double platinum already, which was better than last year, so we`re on course for triple platinum and possibly even a million, which would be amazing. Hopefully this year another album as well but I`m not sure at the moment, we`ll see how it goes."