The character was played as a younger woman by Claire Foy in Season 1 and Foy will once again portray the monarch when the show returns for Season 2 Dec. 8.
Entertainment Weekly reported Thursday Colman, 43, will replace Foy, 33, in accordance with the producers' plans to recast the main roles after the second season.
"This is going to take Queen Elizabeth from age 29 to, presumably, the current day. We'll see it lay out over decades," The Hollywood Reporter -- which also announced Colman's casting Thursday -- quoted Netflix chief Ted Sarandos as saying about the series last year. "The idea is to do this over six decades, in six seasons presumably, and make the whole show over eight to 10 years."
Queen Elizabeth II took the throne in 1952. She is now 91.