The Food Network has confirmed that the answer to that question is yes!
According to their press release, for those who don't know how the show works, "the new roster, consisting of actors, athletes, comedians and musicians, are divided into Team Rachael and Team Guy, as they face intense weekly challenges that are sure to have them working, fighting and laughing along the way. The losing team must send its two bottom-rated contestants to face off against each other, with one member sent home each week."
This year's competitors include comedian Judy Gold, actress Florence Henderson, magician Penn Jillette, actor and SNL alum Chris Kattan, Bachelor and reality star Jake Pavelka, singer and 80's teen icon Tiffany, rapper and DIY Channel star Vanilla Ice, and NFL alum and Heisman winner Herschel Walker.
Since the show title doesn't work without them, both Rachael Ray and Guy Fieri will be back to lead one celebrity to the ultimate culinary bragging right and $50,000 for the charity of their choice. Previous winners include Season 1's Lou Diamond Phillips and Season 2's Dean McDermott (also known as Mr. Tori Spelling.)
The six episode Season 3 will premiere in January, 2014.