The 27-year-old daughter of designer Pearl Lowe and Bush singer Gavin Rossdale said she was "so looking forward to learning a new skill".
"My family and friends and I adore Strictly, so when the chance came up to take part I jumped at it," she said.
Lowe, who was discovered when she was 15, is the eighth celebrity to be confirmed for this year's line-up.
She will join Ed Balls, Danny Mac, Melvin Odoom, Louise Redknapp, Ore Oduba, Laura Whitmore and Will Young on the dance floor when the BBC One show returns next month.
Mac, who played Dodger Savage on Channel 4's Hollyoaks, was added to the line-up on Tuesday, following the confirmation of Redknapp's involvement the previous day.
Lowe said she was "used to being on the catwalk and campaigns of major fashion brands" but said Strictly was "completely different" from anything she had done before.
The model - who is no relation to Strictly professional dancer Natalie Lowe - has modelled for brands like Chanel and has appeared on catwalks in London, Milan and New York.
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Fashion model Daisy Lowe has become the latest celebrity to be added to this year's Strictly Come Dancing line-up.