An adaptation of Walliams's best-selling book of the same name, the show will air on BBC One over the festive period.
Julia McKenzie, Joanna Lumley and Rob Brydon will also star.
Gangsta Granny follows the story of Ben (Reece Buttery), who is bored staying with his granny (McKenzie) until it is revealed that she used to be an international jewel thief.
"Gangsta Granny has proved to be the most popular of all my books," said Walliams. "It is an adventure story about two unlikely thieves, Granny and her grandson Ben. It should make for exciting family viewing at Christmas."
BBC Comedy boss Shane Allen added: "The story delivers on David's penchant for being outrageously funny, yet poignant and tender as well. This will be a wonderful family viewing treat for this Christmas and we're thrilled about seeing it make the journey from page to screen."
It is the second Walliams book to be adapted by the BBC, following the successful BAFTA-nominated Mr Stink.