The 36-year-old British actor will take the stage in the William Shakespeare play to raise funds for his and Branagh's alma mater, the Royal Academy of Dramatic Art, according to the Telegraph.
Branagh's theater company will partner with RADA to launch a three-week run of Hamlet beginning Sept. 1.
Proceeds from tickets, which will be available by lottery, will benefit the RADA Attenborough Campaign.
"Kenneth Branagh and I have long talked about working on the play together, and now felt like the right time, at the right place," Hiddleston, who graduated from RADA in 2005, said, according to the Guardian.
"The performing arts exist to bring people together, not to break or keep them apart," he added. "I hope the funds raised by the production will help RADA continue to provide a wider field of equal opportunity to train actors, stage managers and technical theater artists, from every background, to a standard of excellence and professionalism. We need to keep the doors open for everyone."
Branagh succeeded Richard Attenborough as the president of RADA in 2015 following Attenborough's death at age 90 the year prior.
The 56-year-old Northern Irish actor and director graduated from RADA in 1981.
"The play speaks as loudly as ever to our volatile world and we are proud to have Tom Hiddleston lead an exciting group of actors, as he plays the title role for the first time," he said.
"This work has been in discussion and planning over a period of years. To find its expression at, with, and for RADA, is a privilege."
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