The selection of Caine was exclusively released to The Associated Press by organizers a day ahead of the general announcement. Johansson's role as co-host was announced a week ago.
The concert has in the past been shown on television in 100 countries and is the most popular event on the Nobel calendar.
Caine won the Academy Award as best supporting actor in 1986's "Hannah and Her Sisters" and 1999's "The Cider House Rules." He and Johansson appeared together in the 2006 film "The Prestige."
Former Finnish President Martti Ahtisaari won the coveted prize for his peace efforts on several continents over many decades. The Nobel concert is held the day after the Nobel peace awards ceremony.
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