Pyeongchang's organising committee (POCOG) said it had picked Song because of his experience in handling major projects, his understanding of audiences and broadcasting, and his network within the creative arts industry.
The South Korean alpine town of Pyeongchang will host Asia's first Winter Games outside of Japan in three years' time.
POCOG President Cho Yang-ho said Song was the ideal choice for the role.
"I am very pleased to have Song Seung-whan on board with us," Cho said in a statement on Thursday.
"His experience and creative talent will prove to be valuable assets in producing ceremonies that will harmoniously connect our passion, tradition and cosmopolitan culture to the international audience."
Song created Nanta, a non-verbal performance based on the events in a Korean restaurant's kitchen, in 1997 and it went on to become the country's longest-running show. It has been seen by 10 million people worldwide.
"It is a great honour to join Pyeongchang 2018 as executive creative director for the 2018 Olympic Games' ceremonies," Song said in the statement. "I will devote my best efforts to orchestrate exciting and memorable ceremonies."
(Reporting by Peter Rutherford; Editing by Sudipto Ganguly)
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