The 24-year-old's grace and youthful beauty shine through in the campaign for the brand's new make-up range French Ballerine.
She is pictured wearing ballet pumps, tulle and a high bun so we're certainly sensing a theme for their Spring 2014 collection.
Talking about her new role Lily said, "an absolute honour and a privilege" to be chosen to represent the company.
She explained that she has "always admired the brand's unique and distinctive appreciation for inner beauty and grace, elegance and utter radiance."
Lancôme posted a picture on their US Instagram feed with the caption, "We are proud to announce #LilyCollins as our newest brand ambassadress. #lilyforlancome."
She joins fellow young actress Emma Watson as a brand ambassador and will appear in world wide campaigns from January.
Emma, looks like you've got some competition for classiest starlet in town.
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