The 'Jealousy' singer - who has acted in TV shows and film 'Mrs. Henderson Presents' - will play the master of ceremonies, who is famous for welcoming patrons into the dark pre-World War II Berlin nightclub, in the new production.
Rufus Norris, who is directing the revival of the play, says it will ''change'' the way Will is perceived in the acting world.
He told the Daily Mail newspaper: ''It's one of those great, left-field casting ideas. It will change the trajectory of Will's career. He's not done the London stage before but he has acted in film and television.
Rehearsals begin in August and the show will go on a four week tour of the UK before a run at the Savoy Hotel in London.
Liza won an Oscar for her portrayal of Sally Bowles in the musical, one of eight Academy Awards the film picked up in total.