The 'Ain't No Other Man' singer will play a small town girl who finds success at a Los Angeles-based nightclub after owner Tess (Cher) takes her under her wing.
The project will mark Aguilera's acting debut, though she had previously lent her voice to an uncredited role for the animated film Shark Tale.
The pair will both sing in the Screen Gems production being directed by Steve Antin, while studio president Clint Culpepper said that Aguilera's part was written with her in mind.
"I finally believed in a movie enough and a script enough, and a director enough to sign on and do my first feature film," she told The AP.
She added: "Cher will be starring with me, so it's very exciting for me to step into that project and I'll be taking it very seriously, so that's actually what I am diving into filming over the next few months."
Filming on Burlesque will begin in November.
It was reported earlier that Aguilera is working on an electro-pop album.