DeVito and British actor Richard Griffiths will play an estranged comedy team who reunite for one last performance, the BBC reported.
Performances of the show are scheduled at the Savoy Theatre from April 27 to July 28.
Griffiths won numerous awards for his work in the stage production of "The History Boys." He played a supporting role in the Harry Potter film franchise, as well.
DeVito, perhaps best known for his work on the classic 1970s sitcom "Taxi," also appeared in the films "One Flew Over the Cuckoo's Nest," "Romancing the Stone," "Ruthless People," "Batman Returns," "Get Shorty," "Hoffa" and "Twins."
His producing credits include "Pulp Fiction" and "Erin Brockovich."