Scherzinger, 32, is a former member of the girl group the Pussycat Dolls and appeared on the UK version of "X-Factor" while Jones, 34, has hosted several shows in the UK, including "T4 Music" and "As Seen on TV."
Scherzinger has been rumored as the show's host for months, but many suspected that "High School Musical" star Corbin Bleu would be the show's co-host. Insiders reportedly said that Cowell found that Bleu and Scherzinger lacked chemistry.
Scherzinger was the lead singer of the Pussycat Dolls and launched her solo career in 2010. She was also the tenth season winner of "Dancing With The Stars."
Jones is a former model and has been romantically linked to actress Hayden Panettiere. He had a small role in the movie "Angus, Thongs and Perfect Snogging."
On Thursday, it was confirmed that Cheryl Cole would be joining the acerbic Simon Cowell and music mogul L.A. Reid a judge on "The X-Factor."
A fourth judge is also set to be announced, FOX said in a statement ahead of the show's debut in the fall of 2011 on the FOX network, which also airs "American Idol," the hit series with a similar format that Cowell had left last year.
Speculation on who will serve as the fourth judge continues. It was reported in late April that Cowell was courting his former "American Idol" colleague Paula Abdul for "The X Factor." She has not commented.
There are several differences between "The X Factor" and "American Idol," whose contestants are first revealed to viewers via taped auditions in a small room before the show's judges. "The X Factor" contestants' first on-air tryouts will take place in front of an audience of thousands of other people as well. Also, while "American Idol" aims to find the best solo singer, "The X Factor" expands its search to include a "breakout music group."
"The X Factor" has been the United Kingdom's top-rated program for the last seven years, peaking with an audience of 21 million for its 2010 finale, FOX said.
Auditions for the U.S. version of "The X Factor" began weeks ago. The show is seeking undiscovered talent 12 years old or over, in solo artists or groups who will perform in front of the panel in hopes of winning a $5 million recording contract with Syco/Sony Music.