'Entertainment Weekly' reports that Banks signed on to appear on at least four episodes of the comedy series to play "the latest notch on Jack Donaghy's belt."
The 35-year-old is the second high-profile romance for Alec Baldwin's character this season after Julianne Moore kicks off a multi-episode arc as his high school crush this week.
Banks most recently appeared on television in ABC's 'Modern Family' as a drinking buddy of Cameron and Mitchell.
But she's no comedy rookie. She also appeared in the season five finale of the 'Scrubs' as Dr. Kim Briggs and went on to sporadically guest star on seasons six, seven and eight.
Interesting fact: Did you know Elizabeth Banks' real name is actually Elizabeth Maresal Mitchell? She changed her name to avoid confusion with 'Lost' actress Elizabeth Mitchell.