Gwyneth - actress-turned-cookbook-writer-turned-country-singer - will promote the international campaign to mark the design house's 70th anniversary this autumn and next spring.
The star has reportedly already shot the campaign on a Manhattan rooftop with snapper Peter Lindbergh, and the images will be unveiled in September.
Coach's president and executive creative director Reed Krakoff called Paltrow "a natural choice....She embodies the spirit, energy and elegance of the Coach brand".
Gwyneth, who has also modelled for Tod's and Christian Dior, told wwd.com: "I grew up in New York City and I've always thought of Coach as the quintessential New York brand. I'll never forget getting my first Coach bag."
And now she's set to model for them.
What do you think of Gwyneth's new gig? Let us know below...