The 50-year-old singing sensation - who shot to fame on Simon Cowell's talent search show 'Britain's Got Talent' in 2009 before going on to sell more than 14 million albums worldwide - will see her inspirational tale take to the stage from 2012 in international stage production 'I Dreamed A Dream'.
Susan, who will be portrayed by 'Rab C. Nesbitt' actress Elaine C Smith, is thrilled at the prospect of seeing her life turned into a worldwide musical.
She said: "I am happy that the musical is being produced, I never thought my life story would end up on the stage but a lot has happened in two years and it is a very exciting prospect. I hope everyone enjoys the show and I promise there will be a few surprises along the way."
Meanwhile, producer Michael Harrison claimed the brand new musical will have all the qualities of a real-life "fairytale".
He added: "She is an inspiring woman and her story is an excellent one to tell - someone with a raw talent who surprises the world and overturns all the odds to make a new life for herself.
"It's got all the qualities of a fairytale, but with the added bonus of being absolutely true. I am looking forward to the tour very much."
'I Dreamed A Dream' will open at Newcastle's Theatre Royal on March 23 2012 before going on tour.
Tickets for the Newcastle shows will go on sale on July 7.