He joins a series of national and regional newspaper editors appearing before the inquiry, including Alan Rusbridger of the Guardian, James Harding of the Times and Richard Wallace of the Daily Mirror.
Leading industry figures Tom Mockridge, who took over as chief executive of News International from Rebekah Brooks last July, and Sly Bailey, chief executive of Trinity Mirror, will also provide testimony.
The press standards inquiry will receive evidence on Monday from executives at Trinity Mirror, which publishes five national newspapers, including two Scottish titles, and more than 160 regional papers.
The company’s witnesses will include Mr Wallace, Sunday Mirror editor Tina Weaver and People editor Lloyd Embley.
Mr Hislop, who is also a panellist on the BBC comedy quiz show Have I Got News For You, will appear on Tuesday.
He is likely to be asked how Private Eye, which celebrated its 50th anniversary last year, deals with complaints given that it does not sign up to industry regulator, the Press Complaints Commission.
The fortnightly satirical magazine has taken a close interest in the Leveson Inquiry and how it has been reported in national newspapers.