He will be seen in the third instalment of "Kyaa Kool Hain Hum" franchise along with Tusshar Kapoor and Krushna Abhishek.
"Aftab did impeccably in 'Masti' and 'Grand Masti'. He has brilliant comic timing, required for a blockbuster comedy franchise like 'Kyaa Kool...'," Balaji Motion Pictures' CEO Tanuj Garg said in a statement.
"In fact, we plan on casting him in some of our other films too," he added.
Aftab, who entered Bollywood with "Mr. India" (1987) as a child artiste, was last seen in the hit adult comedy "Grand Masti" (2013).