"I look for that crazy with a lot of big of that strong melodic sensibility," explains Tyler. "But I have to have the crazy cause without that you really won't stand the test of time."
At 63, a lot has happened in the last year. Tyler got engaged and reunited with "Aerosmith" for an 18 date sold out tour. The band is now finishing up its first studio album in more than seven years.
"For being in the studio now and writing and sitting in the room...there's so much excitement around that sort of thing and it's going to kick this album into the middle of next week in the best way possible."
With more than four decades of experience under his belt in the music industry, Tyler says he's still humbled to work alongside his fellow judges.
"When you're as talented as Randy and have as good of an ear as he does, he knows what's going on in the music business; he knows what it takes to be a star. And Jennifer she knows what it takes to be a star."
American Idol premiers Wednesday night at 7:00pm on Fox 24, and is followed by the Fox News Edge at 9.