The production, which ran in Plymouth and Dublin last year, is playing a ten-week run from 24 October.
Walsh, who presents the style section on ITV's This Morning, made her West End debut in 2012 in Shrek the Musical, and also took part in Strictly Come Dancing in the same year.
The show, based on the 2003 Christmas classic film starring Will Ferrell, follows one of Santa's elves who discovers his identity as a human and goes to New York to find his father, all the while spreading Christmas cheer.
Elf features songs by Matthew Sklar and Chad Beguelin, and originated on Broadway in 2010.
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