The former Coronation Street actor will appear at the Marina Theatre in Lowestoft, Suffolk this December as the panto villain Abanazar.
The RADA-trained actor joined the ITV1 soap in 1983 as villainous businessman Terry Duckworth, before making his final appearance last week after a brief return.
Pivaro said of his festive role: "It will be an interesting pleasure to work in the historic sea faring town of Lowestoft, its residents are hardy, inventive and resilient from its fishing roots to leading the way in renewable energy.
"However my stage persona will not be undergoing any such transformation as I will be sticking to the script to perform one of the most dastardly pantomime villains known to man!"
Pantomime producer Paul Holman added: "Nigel is the archetypical soap baddie. He has so much experience to bring to the production of Aladdin at the Marina Theatre and we're thrilled to have him on board."
Aladdin will run at the Marina Theatre from December 18 to January 6. Further cast members will be announced in the near future.
Tickets are on sale now, and can be purchased either at the box office or by calling 01502 533 200.