The social media giant has launched Creator Shows, which are filmed in a vertical format.
Schwarzenegger's show is called Rules of Success and features him giving motivational advice.
More series will premiere this summer from the likes of comedian Kevin Hart.
Teenager dancer Maddie Ziegler - who has performed in music videos with Australian pop star Sia - and tennis star Serena Williams will also host their own shows.
According to the Hollywood Reporter, the Creators Shows will allow Snapchat's most popular creators to extend their reach and make money.
They will reportedly receive a share of advertising revenue, although Snap Inc - which owns Snapchat and Bitmoji - hasn't disclosed how much they will earn.
According to Snap, which started making original productions two years ago, the total time users spent watching shows on Snapchat has more than tripled over the past year. The platform now boasts more than 80 original series.
Influencer Rickey Thompson, who began making comedy videos on Vine and Instagram, said Snapchat "has always been a place where my fans can get to know the real, authentic me".
Snap also recently launched its first scripted Comedy Creator Initiative, designed to inspire up-and-coming comedy writers, performers and directors to imagine what sitcoms should look like for a mobile audience.
The projects include Apocalypse Goals, All Dog$ Get Money and The Daily