The 62-year-old actor will star in the drama, which will be directed by George C Wolfe, reported Variety.
The story is set in a down-market New York bar and follows the conversations of the patrons that have nowhere to go.
"Iceman Cometh" was written in 1939, but the play got published in 1946. It debuted on Broadway in the same year.
Since then, the play has been revived four times - with the last production in 1999, starring actor Kevin Spacey.
Previews begin March 22 with opening night scheduled for April 26.
Washington's last Broadway appearance was in "A Raisin in the Sun" in 2014 that was showcased at the Ethel Barrymore Theater.
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