"It's an absolute honor and privilege to have been chosen to represent the Maison Lancome," the "Mortal Instruments" star said in a statement. "I have always admired the brand's unique and distinctive appreciation for inner beauty and grace, elegance and utter radiance. I feel incredibly lucky to be included among the most inspirational women ambassadresses for one of the most prestigious brands in the world. It's truly a dream come true."

Lily's duties will officially begin in January 2014, with the spring make-up collection French Ballerine. (Should we expect a tutu and toe shoes? She is the granddaughter of a ballerina, after all!)

In the meantime, Lily's film roster is light on projects as production on her "Mortal Instruments" sequel, "City of Ashes," was postponed indefinitely, but she will have the 2014 film "Love, Rosie," co-starring Sam Claflin, to begin promoting soon.

What do you think of Lily as the new face of Lancome? Tell us in the comments and on Twitter!