The 26-year-old took to Instagram to share the exciting news, taking a selfie of herself and channelling gothic chic while wearing one of the lipstick shades.
Joan Smalls announced the news on her Instagram page
"I'm so excited to announce that I've been working on a lipstick collection with @esteelauder," she captioned the photo. "They are all matte and so chic!"
The stunning model also revealed that she was looking for fans' input for the collection. "Here is one of my favorite shades," she wrote, referring to her photo. "You guys get to pick the name, Which one do you think is the best? 💄Unattainable 💄Commanding 💄Unstoppable."
Joan is known for her bold lipstick colour choices, and wowed on the 2014 Met Gala red carpet when she opted for a dramatic purple lip shade.
It comes as no surprise that the Puerto Rican beauty has chosen Estée Lauder for a beauty collaboration, as she has a close relationship with the brand.
In 2011, she became the first Latina to become one of their global ambassadors, and has been a spokesperson for the brand since.
"The word supermodel is overused, but if there's any woman of our generation who deserves the title, it's Joan," said Estee Lauder's global creative director Richard Ferretti. "She can go from looking girl-next-door to superchic, tough and strong – and she is all of that. She has the perfect face."