Former Neighbours star, 55, will reprise the role of suspender-clad Frank 'N' Furter in the 2024-2025 UK tour of Richard O'Brien's musical.
The show will run from August and the new West End production of The Rocky Horror show also includes a two-week run at London's Dominion Theatre from September 6.
Donovan, who has been playing the role in Sydney and Melbourne as the show celebrated 50 years, told PA news agency: "It's also special for me because I met my wife on the show in 1998. She was working on the show.
"So it has another very sort of sentimental value to me. I'm looking forward to bringing my interpretation of this production to the UK because that is where this show really feels like it's in its home territory."
O'Brien wrote the musical stage show The Rocky Horror Show in 1973, which was later adapted for the 1975 film, The Rocky Horror Picture Show, starring Susan Sarandon and Tim Curry.
He co-wrote the screenplay for the film and also starred on the big screen as Riff Raff.
The show, which premiered at London's Royal Court Theatre in June 1973, follows Brad and his fiancee, Janet, as they happen across a gothic looking mansion after their car breaks down.
They meet the head of the house Dr Frank 'N' Furter, a self-proclaimed "sweet transvestite from transexual Transylvania", and the couple watch on as he creates a man called Rocky in his laboratory.
Donovan said the show "seems as fresh as it's always been and still is relevant" and loves the "eccentricity" of the character Frank 'N' Furter.
"I love its heart, I love the madness. I think the music carries you, it's punctuated in the right way. And it just works for me.
"I always wanted to be the lead singer of a band and this is my moment. I'm in this band, this sort of crazy, alternate band, indie band, and it's sort of, the shoes fit".
The show is set to hit the road in Britain from August 19 until February 1, 2025.
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