Steyn will be making his debut in the six-franchise Twenty20 tournament which runs from June 30-August 7.
Malinga has been ruled out with a knee injury sustained during the West Indies series back in November 2015. Despite featuring briefly in the Asia Cup, he has been unavailable since then and missed out on the World T20 and the ongoing Indian Premier League.
"It is a great privilege to feature in the CPL for the first time and I am proud and delighted to sign up for the Jamaica Tallawahs for the forthcoming CPL season," said Steyn.
The CPL will this year also stage six matches in Florida as cricket makes another attempt to break the packed US sports market.
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