He will join Anne Hathaway, Hugh Jackman and Helena Bonham Carter on the cast of the adaptation of the classic musical, reports The Sun.
Cohen will take on the role of Monsieur Thénardier - one of the primary villains of the play - which was previously performed by Matt Lucas in the West End.
The Borat star recently made an appearance in Martin Scorsese's newest film Hugo.
His latest project The Dictator is scheduled for release next year.
Cohen is also set to star in a Freddie Mercury biopic, which producer Graham King told Digital Spy he hopes to begin production on in 2012.
Les Misérables is expected to begin filming early next year. It will open in cinemas on December 7, 2012.
Watch the Hugo trailer below: