The 41-year-old, who was the fourth official for the 2011 final, was appointed unanimously by the FA's Referees' Committee.
"To be given the opportunity to walk out as the referee for an FA Cup final is the highest accolade in English football," Probert told the FA's official website.
"It's a massive honour and I am absolutely delighted. It still hasn't really sunk in to be honest. When I got the phonecall, I have to say I did shed a tear and look to the sky.
"The first person I thought about was my dad who I lost six years ago. He was always there to support me throughout my career and it's payback for all his hard work, taking me here, there and everywhere, encouraging me to never give up. When I walk out on May 17, I know he'll be chuffed to bits."
Probert began his refereeing career back in 1986 before becoming a full-time official in the top flight in 1998.