Director Steve McQueen's third film after 2008's Hunger and last year's Shame follows Solomon Northup, a free black man living in New York who is kidnapped and sold into slavery.
The 19th century-set drama will be McQueen's third collaboration with Michael Fassbender, with Chiwetel Ejiofor playing the lead role of Northup.
Variety reports that Giamatti will portray the man who takes charge of the slaves once they reach their New Orleans plantation, with Paulson (Martha Marcy May Marlene) taking the role of his jealous wife.
Raising Hope star Dillahunt will play a field hand who works alongside Northup.
Sherlock star Benedict Cumberbatch joined the film's cast last week, alongside Ejiofor, Fassbender, Brad Pitt, Adepero Oduye and Paul Dano.
Watch a trailer for Shame below: