The 66-year-old actor will star alongside Camila Cabello as the embattled orphan in the musical comedy, with additional castmates including Idina Menzel, who will play the wicked stepmother, and Billy Porter as the fairy godmother.
British actor Nicholas Galitzine was recently cast as Prince Robert in the film, and Pierce will be playing his father.
While it's currently unclear whether or not Pierce will be singing in the movie, it wouldn't be the first time he's shown off his vocal talents, having previously sung up a storm in "Mamma Mia!" and its sequel "Mamma Mia: Here We Go Again!".
Speaking previously about singing on screen, Pierce told Sky News, "Singing is not necessarily my forte - I enjoy singing, I'm not quite sure other people enjoy my singing, but they have good entertainment value out of my singing."
The musical, which will film in London next year, is set to open in February 2021.