The 27-year-old, who is also due to make a one-off appearance in Casualty later this year, confirmed that she will start work on the film project in the autumn.
Bang Showbiz quotes Pallett as saying: "In this business it really is either feast or famine. Since landing the guest spot in Casualty I've signed up for a part in a Brit-flick with Danny Dyer. The film's called Billy and it starts filming in September."
Pallett, best known for her soap role as Jo Sugden, is currently taking part in a touring production of the musical Rock Around The Clock.
She said: "I'm dancing, singing and acting and it's great. Tiring but great. The music is just fab - '50s stuff like Buddy Holly and The Drifters. It's a really uplifting show."
The star recently admitted that she would not rule out a return to soap in the future.