The US actor and reality TV star, known for starring in the Netflix show which follows a team of estate agents marketing high-end properties in Los Angeles, will begin filming Down Under in July.
She will play Yasmine "Yas" Shields, a glamorous and successful businesswoman in pursuit of an exciting new opportunity.
"I am honoured and excited to join such a beloved and iconic show," the 42-year-old said.
"Coming from the world of soaps in the US, it's back to my first love in the entertainment industry.
"They pitched me an idea for a character, and I was immediately excited to figure out a way to make it happen. Ramsay Street here I come!"
Before her estate agent days, Stause starred in a number of US soap operas including as Amanda Dillon in All My Children, Jordan Ridgeway in Days Of Our Lives, and Bethany Bryant in The Young And The Restless.
Her role in Days Of Our Lives earned her a Daytime Emmy nomination for outstanding guest performer in a drama series.
She also competed on Dancing With The Stars in 2020.
"We are thrilled to welcome Chrishell to the cast of Neighbours," executive producer Jason Herbison said.
"We created a character especially for her and we can't wait for her to bring the storyline alive.
"Expect intrigue and surprises - and many implications for the residents of Ramsay Street."
The soap opera follows the lives of residents in Erinsborough, a fictional suburb of Melbourne.
In 2022, the show was cancelled by Britain's Channel 5 after it failed to secure new funding.
A few months after what was meant to be its final episode, the long-running soap was revived by streaming site Amazon Freevee and production company Fremantle.
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