Directed by Robert Falls, the Chicago-set tale will begin previews Oct. 31 at the Belasco Theatre with an official opening Nov. 17.
Osment has also been seen on screen in "A.I.," "Forrest Gump" and "Secondhand Lion."
American Buffalo, according to press notes, is described as such: "In one of Mamet's signature works the bungled heist of an old nickel by three lowlifes based in a Chicago pawnshop suggests how the language and practice of American business and power politics are insidious forces in our society."
David Mamet's 1976 Obie Award-winning play, American Buffalo, originally opened at Chicago's Goodman Theater. The play established Mamet's reputation when it ran on Broadway in 1977 with a cast that featured Robert Duvall, John Savage and Kenneth MacMillan. It was revived by Al Pacino at the Booth Theatre in 1983. A 2000 Off-Broadway revival at Atlantic Theatre Company starred William H. Macy as Teach. A 1996 film starred Dustin Hoffman and Dennis Franz. A founder of the Atlantic Theater Company, David Mamet's principal works include The Duck Variations, Sexual Perversity in Chicago, American Buffalo, Glengarry Glen Ross (Pulitzer Prize), Boston Marriage, Edmond, Oleanna, Speed-the-Plow and The Cryptogram (Obie Award). He recently adapted The Voysey Inheritance for the Atlantic and was represented on Broadway with the political comedy November.
American Buffalo will be produced by Elliot Martin, Ben Sprecher, Louise Forlenza, Wendy Federman and Nelle Nugent.
Tickets will go on sale Sept. 4 through Telecharge by calling (212) 239-6200 or by visiting www.telecharge.com.
The Belasco Theatre is located in Manhattan at 111 West 44th Street, between 6th and 7th Avenues. The Belasco Theatre box office will open Sept. 8 at 10 AM ET.