Deadline reports that Byrne will play a villainous Norse warrior during the Medieval era.
The drama, conceived by Michael Hirst and Morgan O'Sullivan, has been picked up for a ten episode run.
Hirst and O'Sullivan are best known for their work on historical drama series including Camelot and The Tudors.
Vikings will be the first scripted series to be broadcasted on the History channel.
A scripted mini-series titled Hatfields and McCoys - starring Kevin Costner and Bill Paxton - is due to premiere on the network next Monday (May 28).
Byrne recently starred on the HBO series In Treatment and is currently working on Le capital, a banking-themed drama directed by Costa-Gavras.
He recently joined the cast of Channel 4's political thriller Coup as politician Tom Dawkins.
Based on former Labour MP Chris Mullin's novel A Very British Coup, the series is currently in post-production.