Adam McKay will direct the production, which will begin previews at the Cort Theatre Jan. 20, 2009, with an official opening Feb. 1. The limited engagement is currently scheduled to run through March 15. (The Cort is currently the home of The 39 Steps.)

A previous report in The New York Post said Ferrell's show will "be autobiographical and include anecdotes about the comedian's work on 'Saturday Night Live.'" Ferrell will also likely offer some of his impersonations; among the many he presented on "Saturday Night Live" were impressions of Neil Diamond, President George W. Bush, Robert Goulet and James Lipton.

In addition to his work on "Saturday Night Live," Ferrell has enjoyed much success on the silver screen. His many films include "Stranger Than Fiction," "Winter Passing," "Bewitched," "Kicking & Screaming," "Melinda and Melinda," "Anchorman: The Legend of Ron Burgundy," "Starsky & Hutch," "Elf," "Old School," "Zoolander," "The Ladies Man," "Superstar," "A Night at the Roxbury" and "Austin Powers: International Man of Mystery." Ferrell also played Franz Liebkind in the film musical "The Producers."