The drama, which does not yet have a name, focuses on a murderer called Joe Carroll who has created a number of other killers.
The project will follow Joe and the former FBI agent, Ryan Hardy, who is tasked with catching him.
Canto is the latest star to join the drama, Deadline reports.
He will play Billy, a friend of Joe's last intended victim Sarah.
James Purefoy has already signed up to play Joe, while Ryan will be portrayed by Kevin Bacon.
Other stars who have landed roles in the Fox drama, which has been developed by The Vampire Diaries's producer Kevin Williamson, include Natalie Zea, Nico Tortorella, Shawn Ashmore, Valorie Curry and Jeananne Goossen.