Penn & Teller are making the holiday season extra magical this year: the duo has signed on as Grand Marshals for the annual Hollywood Christmas Parade.

The magicians/entertainers and stars of CW’s “Penn & Teller: Fool Us” will oversee the festivities, a live event taped for television that is presented and produced by Associated Television International.

“We are thrilled to once again be a part of the Hollywood Christmas Parade, one of the greatest holiday traditions of all time, which is enjoyed by millions of families each year,” said ATI president Jim Romanovich. “This year, we are especially gratified to have both the CW and our good friends at Hallmark as our television partners. We are equally thrilled to be partnered with Toys for Tots once again. Through the parade and the generous support of our media partners the CW, Hallmark, Radio Disney, KOST, Entertainment Tonight, Variety, and so many more, we can continue to help provide the necessary awareness tools for the Marine Toys for Tots program, which is essential in their providing gifts to less fortunate children everywhere.”

Erik Estrada, Laura McKenzie, Dean Cain and Montel Williams are co-hosting the parade, which will take place starting at 5 p.m. on Nov. 29 on Hollywood Boulevard in Los Angeles. A two-hour special will air at 8 p.m. Dec. 11 on the CW while Hallmark Channel will air multiple runs beginning Dec. 19 on their Hallmark Movies & Mysteries channel. The parade will also air to more than one million American servicemen and women worldwide on American Forces Network.