Lee's movie BlacKKKlansman and Lee Chang-dong's Burning will screen with 16 other titles in the In Competition category at the annual festival, which begins May 8.
Artistic director Thierry Fremaux and festival president Pierre Lescure announced the official selection at a press conference Thursday in Paris.
BlacKkKlansman marks Spike Lee's first Cannes selection since his 1989 movie Do the Right Thing. The new film is based on the Ron Stallworth book Black Klansman and stars John David Washington, Adam Driver and Laura Harrier.
Burning follows Lee Chang-dong's 2010 Cannes selection, Poetry. The new movie is based on the Haruki Murakami short story Barn Burning and stars Yoo Ah-in, Steven Yeun and Jeong Jong-seo.
Other In Competition titles include Jean-Luc Godard's Le Livre d'image, David Robert Mitchell's Under the Silver Lake and Matteo Garrone's Dogman.
Here is the full In Competition lineup:
Everybody Knows, Asghar Farhadi (opening-night film)
At War, Stephane Brize
Dogman, Matteo Garrone
Le Livre d'image, Jean-Luc Godard
Asako I & II, Ryusuke Hamaguchi
Sorry Angel, Christophe Honore
Girls of the Sun, Eva Husson
Ash is Purest White, Jia Zhangke
Shoplifters, Hirokazu Koreeda
Burning, Lee Chang-dong
Capernaum, Nadine Labaki
BlacKkKlansman, Spike Lee
Under the Silver Lake, David Robert Mitchell
Three Faces, Jafar Panahi
Cold War, Pawel Pawlikowski
Happy, Lazzaro, Alice Rohrwacher
Yomeddine, A.B. Shawky
Summer, Kiril Serebrennikov
The 2018 Cannes Film Festival will run May 8-19. The event will not feature any titles from Netflix due to the festival's requirement for local theater distribution and adhesion to windowing policies.