The series will see three teams of contestants battling it out to become the face of a nationally-recognised brand, representing them in print, on air and at events.
Each team will be mentored by a supermodel coach, who will scout models from across the world before helping them deal with photoshoots, runway shows and commercials.
By the end of the show, one model will have been chosen as the face of the famous company.
Campbell has now signed up to be one of the three mentors on the series, but the other two coaches and the brand to be represented by the winner have not yet been announced.
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Campbell promised that viewers will get "a real insider's look" at the fashion industry through the show, saying: "One lucky girl will become the face of a major brand."
Meanwhile, Oxygen's Rod Aissa said: "The Face is a fresh new series that delivers all the elements our audience craves: fashion, beauty and drama."
A premiere date for The Face has not yet been announced.