The Britain's Got Talent winners will appear in Dick Whittington at the New Victoria Theatre in Woking for the festive season.
Ashleigh Butler will play Dick's love interest Alice Fitzwarren, while Pudsey will be her loyal steed.
Britain's Got More Talent presenter Stephen Mulhern will also appear as Idle Jack in the panto.
"We are so excited to be performing in our first pantomime," said Butler.
"Drama and dance have been a big part of my life for many years and my grandma has taken us to the pantomime every Christmas for as long as I can remember.
"Being part of this panto is a very exciting prospect and I can't wait to take to the stage with Pudsey."
Calum Kemp of the New Victoria Theatre added: "We are absolutely thrilled to be welcoming the sensational duo Ashleigh and Pudsey and entertainer and magician Stephen Mulhern to our theatre for Dick Whittington."
Ashleigh Butler is also tipped to star in this year's Strictly Come Dancing.