Miss Golden Globe is chosen every year by the Hollywood Foreign Press Association, whose members vote for the Golden Globe award winners.
The recipient is typically the child of Hollywood celebrities and is given the responsibility of assisting during the awards ceremony.
"As a young actress who is just beginning my career, it is truly an honor to be a part of such a special night in film and television," said Sosie Bacon in a statement.
Kevin Bacon won a Golden Globe in 2010 for his role in the 2009 HBO war drama film "Taking Chance." Sedgwick also won a Golden Globe -- she took home the award in 2007 for her lead role on the show "The Closer." The two are also parents to son Travis, who is 24.
The outgoing Miss Golden Globe is Francesca Eastwood, daughter of Clint Eastwood and Frances Fisher. Other past recipients include Sam Fox (son of Michael J. Fox and Tracy Pollan), Rainey Qualley (daughter of Andie MacDowell), Gia Mantegna (daughter of Joe Mantegna) and Rumer Willis (daughter of Demi Moore and Bruce Willis).
The announcement was made Thursday at a Golden Globes party hosted by the HFPA and InStyle magazine at the West Hollywood restaurant, Fig and Olive.
The nominations for the 71st annual Golden Globe Awards will be announced live on Dec. 12 at 5 a.m. PT. The awards ceremony will be held Jan. 12 at the Beverly Hilton Hotel with hosts Tina Fey and Amy Poehler.