The event is to be held at the Yash Raj Studios in Mumbai Sunday.
"After nearly 15 years, Zee Cine Awards is returning to Mumbai and our effort will be to make it entertaining for the audiences worldwide. We make films for our audiences. Without their love and support, we are truly nothing," said Abhishek.
Riteish, who has recently completed a decade as an actor in Bollywood, has hosted awards in the past.
Talking about co-hosting Zee Awards with Abhishek, he said: "Abhishek and I are going to be hosting an award function for the very first time together. It is a huge responsibility that Zee has bestowed on us and we hope to entertain our audiences to the hilt."
As far as best actor award is concerned, Riteish is hoping that Ranbir Kapoor gets it for "Barfi!".
The awards ceremony is likely to be attended by celebrities like Shah Rukh Khan, Anushka Sharma, Katrina Kaif, and Deepika Padukone.