The play will feature Bowie's character as he explores Earth. The production will include some new Bowie songs, as well as re-arranged versions of old songs, according to The New York Times.
Co-writer Enda Walsh won a Tony Award for the stage adaptation of 2007's "Once." Ivo van Hove will direct.
"It's going to be a play with characters and songs - I'm calling it music theater, but I don't really know what it's going to be like, I just have incredible trust in their creative vision," James C. Nicola, the artistic director at the New York Theater Workshop, told The New York Times. "I'm really excited about it. These are three very different sensibilities to be colliding."
The play, scheduled to open later this year, will not feature Bowie. Instead, Michael C. Hall, possibly best-known as psycho killer Dexter, will step into the role of Newton, according to The Hollywood Reporter. Hall most recently appeared on Broadway in "Hedwig & The Angry Inch," but has also performed on-stage in "Chicago," "Cabaret" and "The Realistic Joneses."