Team captain Mel B also left the series earlier this year.
Former Inbetweeners star Emily wowed fans when she appeared on I’m A Celebrity in 2018 and was one of the favorites to replace Holly.
A source told The Sun, “The show really needed a bit of a revamp and the bosses are hoping Emily and Laura can. It is one of the biggest brands of ITV and there is still a lot of fun to be had with it. ”
They added that host Keith Lemon was excited to introduce the new team captains to the show and teased that there were “a lot of surprises” lined up.
Mirror TV has contacted ITV for comment.
Emily has appeared on the show on several occasions, including in April when she shared a kiss with Captain Mel B.
Fearne Cotton was the first long-term captain to leave the series after 10 years in 2018.
She was initially replaced by Paddy McGuinness in 2019, which was followed by Mel B for the next two series.
Holly only missed filming one series in 2014 to take maternity leave while pregnant with her third and youngest child, Chester.
* Celebrity Juice returns this fall on ITV2