Topics on the agenda reportedly include prison reform and gang violence, but Kimmel added one more prediction: "How good it feels to unload like a maniac on Twitter."
Kimmel also joked that he finally understands why the rapper has so much love for POTUS: "Kanye loves a big ass!"
But the real LOL came when the comedian took aim at "hysterical" right-wing media personality Hannity, who he has a history of beefing with. Kimmel reminded the audience of the "fuss" that ensued when former President Barack Obama invited rapper/producer/activist Common to the White House.
"He uses the N-word, he talks about cops, the reference about Bush, women, Italians," Hannity said in a Fox News clip from 2011. "This is the president of the United States of America. You know what? This is not a good message for our kids."
Kimmel followed that clip with a more recent one of the conservative singing the praises of Trump's upcoming rendezvous with Ye.
"The president is getting some very public, enthusiastic praise from one of America's most iconic rappers," Hannity said this week. "Kanye West takes a stand for freedom of thought and freedom of expression. We should all support this."
"Oh, well, okay then!" Kimmel laughed. "Good for Sean. He's evolving! He really is."
Jimmy Fallon also took a moment during his Tuesday night monologue to poke fun at the unusual meetup, saying that Trump and Kanye "both think they're going to a Twitter intervention for the other person."
Fallon also joked about Trump's response to Taylor Swift publicly taking a political stance for the first time in her career. When Trump heard the pop star was publicly backing Tennessee Democrats, POTUS told reporters he liked her music "25 percent less now."
"Then Trump said, 'I knew she was trouble when she walked in,'" Fallon said using his best Trump voice.