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The 48-year-old has been signed up by producers at Channel 5, who have apparently described her as "walking dynamite".
"The Hoff is going to be furious when he finds out what she's up to. She's primed and ready to spill the beans on him in that house," a source told the Daily Star.
"Pamela knows his new Welsh girlfriend Hayley Roberts will be watching the show. She might get a shock finding out some secrets about the guy she has been dating."
Meanwhile, Bach released a statement teasing: "I feel that 2011 will be my time to shine and show the world who Pamela is!"
Her relationship with Hasselhoff, 59, ended in 2006 after she claimed that he had been beating her up. He denied the allegations.
> Hasselhoff ex: 'David needs help'
Charlie Sheen, Pamela Anderson, Crystal Harris, Jedward, Amy Childs, Steve Strange and Kerry Katona are also rumoured to be joining the show.
Celebrity Big Brother will return on Thursday, August 18 at 9pm, hosted by Brian Dowling, live on Channel 5.
