Let It Shine will find performers to appear in Barlow's new Take That inspired musical entitled The Band which will initially tour the UK.
Joining Barlow on the panel are former X Factor judge Dannii Minogue and Martin Kemp (Chitty Chitty Bang Bang). Glee's Amber Riley (Dreamgirls) will appear throughout the first stages of the competition "to give her advice to the budding stars".
Barlow said: "Dannii, Martin and Amber all bring so much to this panel with the breadth of experience in music, acting, stage and TV. I can't wait to get started - it's going to be epic!"
As previously announced, Mel Giedroyc will host the show alongside Graham Norton. The competition will take place over eight weeks and will air on BBC One early next year. Producer auditions took place place in July and August whilst filming began this month.