Bloom will star as Joe Cooper, a policeman who doubles up as a killer-for-hire in Letts' dark comedy.
On his return to the West End, Bloom said: "I'm always looking for an opportunity to get back on stage, especially in London, the heart of my home.
"Tracy Lett's Killer Joe is an incredible, adrenaline-fueled piece of writing, with a dark and gritty character to play. It's an interesting comment on a disenfranchised view of the American dream... It's very different from many of the film roles I'm most recognized for.
"The play may be 25 years-old this year, but the relationships it portrays, especially between Joe and the innocent girl Dottie, speak so brilliantly to the empowerment we're seeing around the world in 2018."
Directed by Simon Evans (The Resistible Rise of Arturo Ui, Donmar Warehouse, The Best Man, Playhouse), the production will run from 18 May to 18 August.
The 1993 play was adapted into a film in 2011 starring Matthew McConaughey in the title role. Further casting for this revival production is to be announced.
Letts' other plays include Bug (which Evans directed at Found111 in 2016), Superior Donuts, and the Pulitzer Prize-winning August: Osage County.
Killer Joe runs at Trafalgar Studios from 18 May to 18 August.
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