The interview reportedly covers several facets of Tyler's past and present, including his rough and tumble marriages, drug addictions and gig on Idol.
Other celebs to sit for future episodes include Joel Osteen, Tony Robbins, Deepak Chopra,Sean Penn, George Lucas and Paula Deen.
For her part, Oprah boasted that the new show would be an improvement from her old show:
"We're not sitting on The Oprah Winfrey Showin those chairs anymore, people."
Oprah's Next Chapter premieres on Sunday, January 1 from 9-11 PM EST on OWN TV.