Mr Lazenby, now 75 and a resident of Los Angeles, has become the latest addition to the cast of Dracula – Killer on the Catwalk, which will be filmed in Bridgnorth, Ludlow, Morville, Much Wenlock and Arley.
The film, which has a two million dollar budget, will be distributed over the internet through services such as Netflix.
Producer John Peters said he was delighted to have secured the services of the one-time 007, who took over the role from Sean Connery.
Mr Lazenby will play a vampire hunter called Professor Norris.
"George will be filming in Shropshire after he confirmed his role as Professor Norris this week," said Mr Peters.
"He loves the script, which we are very proud of.
"The story follows Damien Racula, a vampire-obsessed and egomaniac fashion designer, his ambitious publicist Sophie, vampire hunters Professor Kovacs and his feisty granddaughter, Julia, a try-hard DJ named DJ Van Helsing and a wacky nightclub promotions girl called Rebel.
"They are all quite central characters and of course you have Dracula himself, who is played by supermodel, James Tratas. The scenes are very dapper and will be very stylish, with a lot of focus on fashion and design."
Dracula will be played by Lithuanian supermodel Tratas, with Adam Isdale, from Sutton Coldfield, as Dracula's nemesis, Damien Racula.
Filming will take place in Aldenham House and Park in Morville, Ludlow Castle and the Severn Valley Railway's Arley station.
Mr Peters said the production was on the look-out for more than 100 extras and one crucial setting had yet to be found.
"We're actually still looking for the ideal location for Dracula's house, which would ideally be somewhere in Bridgnorth, Much Wenlock or even as far as Shrewsbury," he said.
"Our aim is promote the Shropshire area. The film will be shown in America, Japan and all over the world."