Dwayne "The Rock" Johnson took to Instagram on Thursday to share the news that Anderson was joining the cast.
Johnson posted a photo of himself and the 48-year-old actress standing together in front of the ocean, which he captioned, "She introduced the world to 'CJ Parker' and became one of the most iconic characters of a generation - for the most successful TV show of all time."
"A pleasure to welcome (as gorgeous as ever) Pamela Anderson to our #BAYWATCH cast," Johnson continued. "We couldn't have made this movie without you. Welcome home. Thrilled you had a blast with us!"
Anderson, who joined the show in 1992 and stayed on for five seasons, played C.J. Parker -- one of the series' most popular characters. However, she will not be reprising her iconic role in the film. Sports Illustrated swimsuit model Kelly Rohrbach has been cast to play Parker, meaning Anderson's role is still unknown.
Johnson stars as head lifeguard Mitch Buchannon, the role originated by David Hasselhoff. It was previously announced that Hasselhoff will also have a cameo in the film and, like Anderson, it's unclear what his role will be.
In February, Anderson sat down with ET Canada where she admitted that she had turned down the initial offer to be part of the "Baywatch" movie, but reconsidered after the producers continued to pursue her.
"'Baywatch' was such a huge part of my life," Anderson explained. "And really they're trying to do an homage. It's an honor to have them want me to be a part of it so bad."