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According to the Telegraph's James Rothwell, the trio will consist of model Jodie Kidd, actor Philip Glenister, and television host Guy Martin.
Kidd, 36, is a a noted fashion model and TV personality who currently hosts "The Classic Car Show" on the UK's Channel 5. Kidd is a well-known car enthusiast and has appeared on "Top Gear" twice as guest.
Glenister, 52, has had leading roles on the British TV shows "Life on Mars" and "Ashes to Ashes." The actor currently hosts "For the Love of Cars" on Channel 4 in the UK.
Martin, 33, is a successful TV host and motorcycle racer. He's made nearly a dozen appearances at the prestigious Tourist Trophy motorcycle race on the Isle of Man.
The new hosts will take over for Jeremy Clarkson - removed from the show after nearly 30 years at the helm due to a fracas with a producer - as well as Richard Hammond and James May, both of whom chose not to renew their contracts.
Longtime executive producer Andy Wilman has also left the show.
The BBC has not set a formal date for season 23 of "Top Gear."