The Oscar nominee joins Paula Patton in the Columbia Pictures ensemble comedy, according to The Hollywood Reporter.
Salim Akil is directing the picture, which also features Laz Alonso, Loretta Devine and Romeo Miller.
The movie follows two black families from opposite ends of the social spectrum who clash during a weekend wedding in Martha's Vineyard.
Bassett has landed the role of Patton's mother, an heiress and part of the Washington elite.
The actress has just wrapped shooting the role of Amanda Waller for Green Lantern and is currently casting her directorial debut United States.