RuPaul, Drag Race veteran Michelle Visage, Graham Norton and Alan Carr will also star. The eight-part remake is set to be aired on BBC Three and BBC iPLayer later this year.
"The creativity is always totally outside the box and it's one of the many reasons I watch and love this show," Garfield said in a statement.
"I love that you have to dare, you have to dare and you have to drop all of your societal norms and restraints that you've been taught and you have to dare to embody something higher," Coel said.
The original RuPaul's Drag Race wrapped up Season 11 in May with Yvie Oddly of Denver being crowned the winner.