The singer-songwriter will play the fairy in ITV's new adaption of J.M. Barrie's much-loved classic novel, Peter Pan.
Paloma joins a stellar cast with The Devil Wears Prada star Stanley Tucci playing the legendary Captain Hook, while Breaking Bad star Laura Fraser will play Mrs Darling.
The two-hour drama will introduce new young talents, Zac Sutcliffe as Peter Pan and Hazel Doupe as Wendy Darling.
The magical story will cut back and forth between modern day struggles and the fantasy land of Neverland, with the common theme being positivity and belief.
ITV's director of drama Steve November, said: "I'm delighted to be bringing J.M. Barrie's classic story of Peter Pan to ITV. This wonderful interpretation by Adrian Hodges is faithful to Barrie's original, but adds a new and unexpected dimension that makes it feel as though we are hearing the story for the first time.
"We're thrilled to have such a great cast on board to star in this exciting new drama."
Peter & Wendy is currently in production and filming will take place over a six-week period in Luxembourg, London and Dorset. CGI special effects will be used to create the extraordinary world of The Neverland.
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