The 29-year-old rapper is believed to have signed a multimillion-dollar deal to front the campaign for the brand`s new `Pop` drink.
Derek Jackson, the Glu agency boss who brokered the agreement, confirms the star shot a television advert for the new product in South America last month.
He told Forbes magazine: "You`ll see the commercial probably in the next two months. That`ll be a segue into a new beverage Pepsi has, called `Pop,` and she`ll be the face of the brand ... it`s going to be explosive."
With an income of £4million last year - which earned her the number 15 slot on the Forbes Hip-Hop Cash Kings list - Nicki looks set to further increase her bank balance with a UK tour in June.
Taking to twitter ahead of the April 3 release of her new album `Pink Friday: Roman Reloaded`, she announced plans to perform in London, Birmingham and Manchester starting June 24.