The jury panel also comprises Bollywood critic and writer Bhawana Somaaya.
The award function, which recognises the young talents from the entertainment industry, is scheduled for March 23.
"There is a need for young talent to be nurtured in our country where reality shows have become a medium for instant popularity, which is often fleeting. Properties like The Young Entertainers Award will act as a medium for recognition and appreciation of young talent," Shaan said in a statement.
Kabir Khan, who is now directing Salman Khan-Katrina Kaif starrer "Ek Tha Tiger", added: "I was fortunate to have got a break five years ago with 'Kabul Express'. In future it would be platforms like the BIG Star Young Entertainers Awards which will showcase the talents of tomorrows young stars."