The fashion house announced the news in an Instagram post, writing: "The Rose of all Roses. Introducing @lilyrose_depp as the new face of N°5 L'EAU, the new N°5."
Heralded by the fashion house as ‘the freshest version’ of its iconic scent, Chanel No. 5 L’Eau aims to appeal to the younger, millennial audience, making Depp an obvious choice of muse.
Depp also shared the announcement on Instagram adding that she is "so excited".
Depp wore Chanel designs throughout the Cannes Film Festival 2016, notably sporting this playful hoodie and shorts set to the photocall for her new film 'The Dancer' (La Danseuse) on 13 May.
She later changed into a Bardot-style Chanel gown for the premiere of 'I, Daniel Blake'.