Expect the eyeliner to run out at British Summer Time festival in London's Hyde Park as Tim Minchin and Ozzy Osbourne vie for supplies.

The Australian musical comedian has been added to the lineup for the week of gigs by Black Sabbath, Arcade Fire, the Libertines, Neil Young, Tom Jones and McBusted.

Minchin will top Hyde Park's main stage for a night of comedy on 10 July, joined by one-liner specialist Milton Jones and the ventriloquist Nina Conti, who was named best female television comic at the 2013 British Comedy awards.

It's a rare comedy outing for Minchin, who has been been busier with stage projects of late. As well as writing the songs for Matilda, the Royal Shakespeare Company's hit musical based on Roald Dahl's book, he has appeared as Judas Iscariot in an arena tour of Jesus Christ Superstar and as Rosencrantz in Tom Stoppard's Rosencrantz and Guildenstern Are Dead.

Minchin made his name at the 2005 Edinburgh fringe, where he survived a one-star Guardian review to be named best newcomer for his set of broad but often moving comedy songs.

He first approached Roald Dahl's estate to write a musical of Matilda in the 1990s, but it wasn't until 2010 that the show opened in Stratford before transferring to London and New York, where it won rave reviews. Following Matilda's success, Minchin is now reuniting with director Matthew Warchus to work on a musical of the 1993 film Groundhog Day with the film's screenwriter Danny Rubin.

Of his twin careers, Minchin has said: "I'm a good musician for a comedian and I'm a good comedian for a musician but if I had to do any of them in isolation, I dunno."

QI regular Alan Davies and standup Gina Yashere make up the midweek comedy lineup at British Summer Time, with veteran British comic Jasper Carrott hosting proceedings.

Crowds will be hoping for a rousing if unseasonal rendition of Minchin's most famous song, Drinking White Wine in the Sun – the track is actually about Christmas.