The film actor and director, whose works include "New Jack City" and "Posse," has agreed to join the successful daytime soap opera this month, Zap2it.com reported Friday.
When Peebles first appears on the ABC hit series Jan. 29, he will be portraying prosecutor Samuel Woods, who encounters actress Susan Lucci's character on her talk show.
A recent ABC news release said the interaction of Woods and Erica Kane results in "a lot more than a spike in ratings: Samuel will soon become a nightmare, though one that could turn into a romance!"
The Web site said that in addition to appearing on "One Life" during the 1980s, Peebles has appeared on the small screen in series such as "Law & Order" and the FX drama "Damages."
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