Sarandon will first appear in a national advertising campaign for the Revlon brand in early 2005.
She joins a group of beautiful women who currently represent Revlon including Halle Berry, Julianne Moore and Kate Bosworth.
"Susan Sarandon is perfect for the Revlon brand. Her beauty and talent have broad appeal," said Stephanie Klein Peponis, the company's executive vice president and chief marketing officer.
Sarandon most recently starred in the independent hit Igby Goes Down, for which she received a Golden Globe nomination, and she is currently filming a contemporary adaptation of the 1966 film Alfie, starring Jude Law.
"I am honored to be a part of a company like Revlon that promotes the idea that women can be beautiful at any age," said Susan Sarandon.
Revlon is a global cosmetic, fragrance and personal care products company, whose brands include Revlon, Almay, UltimaII, Charlie and Flex.