Elizabeth Debicki is set to star as Princess Diana in 'The Crown'.

The 29-year-old actress will play the late Princess of Wales - who passed away in 1997 - in the upcoming fifth and sixth seasons of the hit Netflix drama, after the role is introduced to the show by Emma Corrin in the upcoming fourth season.

In a statement, Elizabeth said: ''Princess Diana's spirit, her words and her actions live in the hearts of so many. It is my true privilege and honour to be joining this masterful series, which has had me absolutely hooked from episode one.''

'The Crown' follows the dramatised life of the royal family through different time periods, starting in the late 1940s and early 1950s with Queen Elizabeth and Prince Philip's marriage and early careers.

The show changes cast every two seasons as the time period changes, with seasons three and four taking place during the 1960s and 1970s.

Elizabeth's casting comes after it was announced earlier this week that Jonathan Pryce will be taking on the role of Prince Philip in his later years, after the role was originally held by Matt Smith, and is currently played by Tobias Menzies.

It was also previously revealed that Imelda Staunton would play the monarch, Queen Elizabeth II, following on from Claire Foy and Olivia Colman.

The Queen's sister, Princess Margaret, will played by Lesley Manville in seasons five and six, after turns by Vanessa Kirby and Helena Bonham-Carter.

It was previously announced season five would be the last outing for the show but creator Peter Morgan confirmed last month that the decision had been made to continue the story of the current British royal family further and it would run for an additional sixth series.

He said: ''As we started to discuss the storylines for series five, it soon became clear that in order to do justice to the richness and complexity of the story we should go back to the original plan and do six seasons.''