The Dubliner is set to be the latest guest presenter on the hit show.
However, Doyle, who has done most of his presenting work for the BBC, will take the helm for one show only, despite reports that it would have a full-time presenter in time for 2009.
It had been thought that former Father Ted actor Ardal O'Hanlon would take on a full-time presenting role on the satirical show from the start of the New Year, however an RTE source has told the Herald that guest presenters will be on the agenda for at least another couple of weeks.
Doyle will be expected to keep order on comedians Neil Delamere, Andrew Maxwell and Colin Murphy, while tabling a debate about Beverley Flynn's €41,000 Independent TD allowance.
The source revealed: "Craig is seen as a bit of a catch for The Panel because he is naturally quite funny."
The show, which moved from RTE 2 to RTE 1 at the start of the current series, has had a different presenter each week as the search goes on for a full-time host.
Among those who have chaired the high-ratings show are Diarmuid Gavin, Grainne Seoige, Marty Whelan and Ray D'Arcy.