She will star opposite Ewan McGregor and Carrie Coon.
Winstead, 31, will play Nikki Swango, a crafty and alluring recent parolee with a passion for competitive bridge playing. Nikki is a woman with a plan, focused on always being at least one move ahead of her opponents, reported Aceshowbiz.
"Fargo" season three is set in 2010, a few years after the events in the first season and a few decades after season two.
The older one, Emmit, is the Parking Lot King of Minnesota. A handsome, self-made, real estate mogul and family man, he sees himself as an American success story. His slightly younger brother, on the other hand, is more of a cautionary tale. Balding and pot-bellied, Ray is the kind of guy who peaked in high school. Now a parole officer, he has a huge chip on his shoulder about the hand he's been dealt, and he blames Emmit for his misfortunes.
Production on the new season is slated to begin later this year for a 2017 premiere.
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