The 33-year-old actress - whose divorce settlement with Tom Cruise was agreed earlier this month - is to star in `Dead Accounts` this autumn as a woman in her 30s, who lives with her parents and faces a shock when her brother returns to their Cincinnati town in bizarre circumstances.
Playwright Theresa Rebeck is "positively tingling with delight" about Katie starring in the production, which is set to open at the Music Box Theatre in New York, where the actress is expected to continue living with her and Tom`s six-year-old daughter Suri following their divorce.
Theresa told The Wrap: "It`s beyond cool, honestly. The whole team is lively as hell. I am positively tingling with delight."
Katie is the only star to have been in cast in the play, which will be directed by three-time Tony Award winner Jack O`Brien.
The brunette beauty made her Broadway debut alongside John Lithgow, Dianne Wiest and Patrick Wilson in the revival of Arthur Miller`s play `All My Sons` in 2008.
Katie shot to fame as Joey Potter on the TV teen drama `Dawson`s Creek` - which she starred in from 1998 until the programme ended in 2003 - and she has gone on to land a number of movie roles including 2005`s `Batman Begins`, which saw her act alongside Christian Bale, Sir Michael Caine and Liam Neeson.