In Marvel universe, Viper is commonly known as a foe in the Avengers and the X-Men. The villainess is known as Victoria by day and turns into Viper by night.
The 30-year-old actress will be playing the role of Viper while Korean-American actor Will Yun Lee has been tapped to play the Silver Samurai.
Joining Lee as another super-villain in the movie is Brian Tee who has been picked to portray Noburo Mori, a corrupt minister of justice.
"The Wolverine" will take its cue from the early 1980s Chris Claremont/Frank Miller miniseries, which is set in Japan.
Director James Mangold has scheduled to kick off the filming in Australia next month with the movie being slated for a July 26, 2013 release in the US.
The forthcoming movie will be Biel's second Marvel flick after 2004's "Blade: Trinity".