On Wednesday, the magazine's founder Hugh Hefner confirmed that Smirnoff, who is paired with Karate Kid actor Ralph Macchio on the reality competition this season, will follow in the footsteps of Marilyn Monroe, Farrah Fawcett and Pamela Anderson as a Playboy covergirl.
"The May issue of Playboy is unforgettable with Dancing With The Stars' Karina Smirnoff on the cover & nude inside (sic)," Hefner wrote on his official Twitter account.
Besides her work on Dancing with the Stars, the Ukrainian has won five US national ballroom dancing championships and previously appeared nude in a PETA advertisement.
Last Month, Smirnoff revealed that she and her fiancé, Detroit Tigers pitcher Brad Penny, are planning a "destination wedding".
The 12th season of Dancing with the Stars airs Mondays and Tuesdays on ABC.
> Karina Smirnoff 'finds strength in fiancé'