The Iron Man filmmaker will helm an upcoming episode of the NBC comedy's final season, according to TVLine.
However, it has not been confirmed which episode Favreau will direct.
The Office will come to an end after nine seasons in May. John Krasinski - who plays Jim Halpert in the show - recently teased that the finale will be very "unique".
Jon Favreau has previously directed an episode of Fox's Undeclared, while he has also worked behind the camera on Jimmy Kimmel Live! and the pilot episode of NBC's Revolution.
He is currently working on a film version of hit musical Jersey Boys.
Favreau will also star in Iron Man 3, having directed the previous two instalments.
Watch a trailer for Iron Man 3 below: