The Tony winner, who has appeared in shows such as Jesus Christ Superstar and Pippin, will play Dr Everett Scott in the two-hour extravaganza, reported Digital Spy.
"I'm excited to announce that I will join the cast of Rocky Horror Picture Show on FOX as Dr Everett Scott! #RockyHorror," Vereen announced the news on Twitter.
Scott is the science teacher turned UFO investigator who turns up at the castle to look for his nephew, played by Jonathan Adams in the 1975 film.
Also among those cast in the new version is original Dr. Frank N Furter Tim Curry, who will play The Criminologist - originally portrayed by Charles Gray in the film.
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Reeve Carney will take on Riff Raff, with Adam Lambert playing Eddie and Staz Nair playing "Rocky Horror".
Behind the modern retelling of Jim Sharman and Richard O'Brien's musical is Kenny Ortega, who choreographed High School Musical and Xanadu.
Fox's "Rocky Horror Picture Show" will air in the fall.