The second instalment in the 3D family franchise will see Ricci play the new character of Vexi, an evil version of Smurfette (Katy Perry), according to The Hollywood Reporter.
The first Smurfs movie was released last year. Directed by Raja Gosnell, it grossed over $550 million (£341 million) worldwide.
Neil Patrick Harris, Hank Azaria, Jayma Mays and Sofia Vergara starred in the film. Many of the actors are expected to reprise their roles in the sequel, while Gosnell will return to direct.
Ricci has appeared most recently opposite Robert Pattinson in Bel Ami, and stars in the ABC series Pan Am.
The actress recently spoke out about her turbulent younger life, dubbing her 20s as "a hurricane".
The Smurfs sequel is due for release in the US on July 31, 2013.
Watch a trailer for the first Smurfs movie below: