The political comedy stars Julia Louis-Dreyfus as the Vice President of the United States as she navigates her work and personal life with the help of her aides, played by Anna Chlumsky, Tony Hale, and Reid Scott.
Deadline reports that Cole will apparently play a "Karl Rove-type" on the coming season, and will appear in several episodes of the series.
Cole last appeared on HBO in a guest spot on the recently-wrapped Entourage.
Veep was one of HBO's breakout hits earlier this year.
The programme received two Emmy nominations earlier this year, winning the 'Best Lead Actress' award for Louis-Dreyfus's performance.
Watch a short preview clip from Veep below: