The 74 year-old singer/songwriter will appear in a new commercial for Chrysler, which will be the latest in the automobile's series of cinematic Super Bowl ads, according to Rolling Stone magazine.
Dylan's name joins a list of other major entertainment stars, including Eminem, Clint Eastwood and record producer Berry Gordy, who have appeared in Chrysler ads in recent years for the annual NFL game.
It is not yet known which Dylan song will feature in the commercial.
In the past decade Dylan has surprisingly starred in a 2004 Victoria Secret commercial, and has featured in a 2006 ad for Apple as well as a role for Cadillac in 2007, which happens to be Chrysler's rivalry.
Dylan is expected to advertise the automaker's 2014 Chrysler 200 model which was unveiled only recently.
This will be the second commercial at the 2014 Super Bowl which will feature Dylan in some aspect, a new Super Bowl commercial for Chobani featuring Bob Dylan's 1966 hit 'I Want You' surfaced online.