The Oscar-nominated Little Miss Sunshine actress will join Glee's Lea Michele in the cast of the ensemble movie, a follow-up to this year's Valentine's Day.
Director Garry Marshall is returning to helm the feature, which interweaves various stories of people trying to navigate romance on New Year's Eve.
Valentine's Day producers Mike Karz and Wayne Rice, and screenwriter Katherine Fugate are also expected to come back. The romantic comedy featured Jessica Alba, Anne Hathaway, Ashton Kutcher, Taylor Lautner and Julia Roberts and grossed more than $200 million at the box office.
New Year's Eve will open in cinemas on December 9, 2011.