The BBC One special, which is intended to mark the 30th anniversary of the duo's comic collaboration, will air this Christmas.
"We've got our lucky pants on and we're ready to get funny..." French joked in a news release.
"We have almost deliberately stayed alive this long just to force the British Broadcorping Castration to put us on television one last time," Saunders added.
"To be honest, I wouldn't have a career without them, so it's terrific that they're back together for this show of old, gold and new stuff. They are two of the greats and it's good that they've finally found each other's phone numbers for the first time in a while," executive producer Jon Plowman said.
"French and Saunders are the godmothers of modern female comedy performers and one of the most beloved comedy double acts this country has ever produced. This will be a special treat for all comedy fans and we look forward to seeing what will get their glorious spoof treatment this Christmas," Shane Allen, BBC's controller of comedy commissioning, said.
In addition to their sketch comedy show, French and Saunders are also known for creating -- and respectively starring in -- the classic British sitcoms "The Vicar of Dibley" and "Absolutely Fabulous."
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