The actor will take on the title role in the world premiere run of Epstein: The Man Who Made The Beatles, which is launching to coincide with the legendary band's 50th anniversary year.
Running from November 15 to December 1, The Man Who Made The Beatles will be the first major production at Liverpool's newly-refurbished Epstein Theatre, named after Brian.
Lancel commented: "As a Beatles fan, it's a daunting but hugely exciting challenge to be playing Brian Epstein, and I was very honoured to be asked.
"This is the first play I've accepted in 10 years which says a lot - it's a powerful and moving piece, but also an entertaining insight into one of our own and what makes him tick."
Director and co-creator Jen Heyes added: "I am so pleased that Andrew Lancel has accepted the part of Brian Epstein.
"The casting process was a long and considered one as befits this iconic role, and I can think of no-one better to play Brian than Andrew - a professional Liverpool actor who has become a household name, with a fantastic and varied body of work under his belt.
"We had a responsibility to find the right actor for this role, and I am extremely excited to have Andrew on board. I know he will do Brian justice, and he even has a resemblance to him which is an added bonus."
The two-hander multi-media play will chart the adult life and career of Epstein, from his drama school days to managing the world's biggest pop group. The entrepreneur died from an accidental overdose in 1967 at the age of 32.
Lancel finished filming his role as Coronation Street villain Frank Foster earlier this year. The actor is also well-known for his part as DI Neil Manson on The Bill.