The Jennifer's Body actress will make her Broadway debut in 24 Hour Plays on November 14 in New York, reports On The Red Carpet.
24 Hour Plays is an annual fundraiser that has 24 stars partner up with six writers, six directors, two musical guests and a production staff to produce six plays. The actors then will perform the plays on stage to benefit the Urban Arts Partnership.
According to the reports, other stars who also will be making their Broadway debuts are Jesse Eisenberg, Sarah Silverman, Gabourey Sidibe, Tracy Morgan and Jack McBrayer.
John Krasinski, Woody Harrelson, Jason Biggs and Julia Stiles also will take part in 24 Hour Plays.
Fox, who was famously let go from the third instalment of the Transformers franchise, will appear in the upcoming Knocked Up spinoff with Leslie Mann, Jason Segel, Paul Rudd and Bridesmaids' Chris O'Dowd.
Mann has praised Fox for her sense of humour.
"Megan Fox is so funny. She's hilarious. You wouldn't, I don't know if other people [expect it], but I think she's really funny. You'll be pleasantly surprised," she said.
Watch a video of Megan Fox's Saturday Night Live appearance below (US only):