Stevens was inducted into the National Museum of Racing Hall in 1997 after winning eight Triple Crown races -- three Kentucky Derbys, two Preakness Stakes and three Belmont Stakes.
Stevens will also continue to serve as an analyst for NBC Sports.
“We're delighted to welcome Gary Stevens to our outstanding group of analysts," HRTV executive vice president and general manager Jim Bates said in a statement. "Gary is a talented, highly respected figure in thoroughbred racing, and he has brought the same keen understanding and instincts to the broadcast booth that he had in the saddle. We're eager to share his interesting perspectives and insights with our viewers.”