Hoy will appear this week on the relaunched BBC2 show, fronted by ex-Friends star Matt LeBlanc.
He tweeted that appearing on the show had been “so much fun” adding that he had “wanted to have a crack” at the Top Gear challenge for years.
Edinburgh-born Hoy has pursued a career in motor sport since retiring from cycling, though was keen to manage expectations of his fans on Twitter. He pointed out that his lap in the Toyota GT86 was on a “damp track.
Top gear is on this Sunday on BBC2 at 9pm.