The Emmerdale and Waterloo Road actress will make her big-screen debut in the project from first-time director Owen Tooth, reports HeyUGuys.
Jay and Silent Bob Strike Back star Jason Mewes will join Pallett, along with Frances Ruffelle (Les Misérables), Jessica Jane Clement (The Real Hustle), Peter Barrett, Jazz Lintott and Emma Buckley.
Hawthorn Productions' Dominic Burns will produce the film, and said of the castings: "I'm thrilled with the cast we've put together, Roxanne Pallett is now focusing on film and I can instantly see why, her on-screen performance is remarkable.
"Jason Mewes is a legend and to my knowledge he's never been in a British film. Everyone's buzzing about working with him, we all feel exceedingly lucky to have him on board. He's certainly taking on a role that'll push him and I know it's a character his fans are going to love!"
On the film itself, he added: "Devil's Tower is a dark, nasty movie with a s**tload of scares and plentiful gore and we've even managed to slip in some dark comedy and a touch of sex!
"It's a mainstream movie we're releasing in cinemas but it's certainly a film proper horror fans are going to love."
Roxanne Pallett recently dismissed reports stating that she wanted a role in Mad Men.