The "Bridesmaids" star will play the role of Carell's love interest in the Adam McKay-directed movie, reported Aceshowbiz.
Official plot details of "Anchorman 2" are still kept under tight wraps. It is unknown when McKay will kick off the filming, but the film is projected to be released sometime in October 2013.
McKay recently said that the sequel to 2004's "Anchorman" would feature musical numbers.
"There will be some music in 'Anchorman 2' though for sure, we have some songs already written. We were going to do 'Anchorman 2' as a Broadway musical first, for like six months and then go shoot the movie. That was our initial idea," he had said.
In addition to Carell, "Anchorman 2" will bring back Will Ferrell, Paul Rudd, Christina Applegate and David Koechner in the movie.