Lord of the Dance: Dangerous Games will open on 1 September and run until 25 October 2014.
Flatley's distinctive brand of pop-infused Irish dance rose to prominence after Riverdance's appearance during the 1994 Eurovision Song Contest.
Flatley will make his "final West End performances" in the Palladium show, alongside three young 'lords of the dance'. According to the Daily Mail, Coyle will guest star as a goddess called Erin.
Following its run at the Palladium Lord of the Dance: Dangerous Games will embark on a tour including a run at the Hammersmith Apollo.
Other shows scheduled for the Palladium – where I Can't Sing! closed earlier this month – include US comedian Chelsea Handler with her show 'Uganda be killing me' (12 July) and 50s jukebox show Bobby Socks and Blue Jeans (19 October).
— Michael Flatley (@MichaelFlatley) May 28, 2014