Daniel Sullivan is directing the new production of the Pulitzer Prize-winning drama, which is to begin previews Oct. 16 ahead of a Nov. 11 opening.
Pacino earned an Oscar nomination for portraying Ricky Roma in the 1992 film version of "Glengarry Glen Ross." He will now take on the role of Shelly Levene.
This production marks the 30th anniversary of the play, which Mamet wrote in 1982.
It premiered in the 1983-84 season at the Royal National Theatre in London. That same year, it made its American debut at Chicago's Goodman Theatre before moving to Broadway's Golden Theatre where it ran for 378 performances.
"The stakes are high at a fly by night Chicago real estate office: 1st prize -- a new Cadillac, 2nd prize -- a set of steak knives, 3rd prize -- you're fired!" a synopsis said. "'Glengarry' slices to the core of the American dream and exposes the depths people will go to stay on top of the game."
Pacino and Mamet most recently worked together on the HBO Phil Spector biopic, written and directed by Mamet and starring Pacino and Helen Mirren. It will premiere in 2013.
Pacino was last seen on Broadway in "The Merchant of Venice" in 2010-11.