Porter will play Cinderella's fairy godmother, reports variety.com.
The drama will be helmed by Kay Cannon.
The new "Cinderella" will be a music-oriented version of the traditional tale of the orphaned girl with an evil stepmother.
Disney's 1950 animated drama has received two live-action remakes: 1997's iteration starring Brandy and Whitney Houston and Kenneth Branagh's 2015 version with Lily James.
Porter, who rose to fame with "Pose", is all set to return for the third season. He will also appear n "Like a Boss" opposite Tiffany Haddish, Salma Hayek and Rose Byrne.
The movie is scheduled to release in 2021.