The 52-year-old – who played G-Wing's twisted screw Jim Fenner for six years – will appear alongside ex-The Bill actor Matthew Crompton (PC Sam Harker) as father and son, Harry and Dan Mason.
The pair are to run the Rosamund Street betting shop, a new set for which has just been built at Manchester's Granada Studios.
A source for the soap told DS: "It'd be a fair bet to say that Harry and Dan both have a roving eye for the ladies. However, they're always sailing close to the wind as far as the law is concerned."
Ellis is due to begin filming for the ITV soap tomorrow and will first appear on screen on Monday, December 3.