He hosted and was executive producer of The Apprentice and the Celebrity Apprentice for the network. And Trump and NBC were joint partners in the Miss Universe Organization for years.
However, NBC terminated its relationship with Trump earlier this year after he made controversial comments about Mexican immigrants.
"At NBC, respect and dignity for all people are cornerstones of our values," the company said at the time. "Due to the recent derogatory statements by Donald Trump regarding immigrants, NBCUniversal is ending its business relationship with Mr. Trump"
Trump maintained he was the one who severed the relationship.
“As far as ending the relationship, I have to do that because my view on immigration is much different than the people at NBC," he told reporters.
This will be Trump's second time hosting SNL, having previously hosted the April 3, 2004 episode.