Working with a host of industry experts they will help to choose the shortlist for the 2016 award, which is then decided by public vote.
Previous winners include James McAvoy, Tom Hardy and Jack O'Connell who was was presented with the award at the Baftas earlier this year.
Colman said she was looking for a performance "you couldn't ignore."
"I think it's important to support people who are coming into it," she said of being on the jury.
"I would have liked someone to go 'well done, you' at the very beginning... it's nice to be able to do that for each other."
The award is not only open to newcomers and can go to actors who have already appeared in a number of films.
Ross, who hosted the BBC's film review programme for 11 years, said he is looking for someone who has "already made a splash."
"It's not about being just a new young face," he said. "It's about someone who has the ability to shine on screen, regardless of the quality of the film or the role or regardless of the genre," he said.
"Someone who has already earned their place in the affections of the audience as someone who, when they see them on the cast list, they think, 'OK, I want to go and see that film because that person always does interesting work'."
They are joined by producer and jury chair, Marc Samuelson; film critic James King; Philomena producer, Gabrielle Tana; Pirates Of The Caribbean and Testament Of Youth casting director, Lucy Bevan; director of Harry Potter and Four Weddings And A Funeral Mike Newell, and Nina Gold - the renowned casting director for Star Wars Episode VII, The King's Speech and The Imitation Game.
The jury will select five nominees who will be announced on 6 January 2016.
The winner is revealed at next year's EE British Academy Film Awards in February.
TV host Jonathan Ross and Broadchurch actress Olivia Colman are to sit on this year's EE Rising Star Award jury.