Dilshan, who has played for the Delhi Daredevils and the Royal Challengers Bangalore in the Indian Premier League, is set to take over from the injured Martin Guptill for the Guyana Amazon Warriors.
Guptill broke a bone in his right hand against the Antigua Hawksbills on Saturday night.
"While it is sad to lose a player of Martin Guptill's ability at this stage of the tournament, we are delighted to have secured a top-quality replacement in Tillakaratne Dilshan," said the Guyana Amazon Warriors coach Roger Harper on Tuesday.
The 36 year-old Dilshan is the fifth top-class Sri Lanka star to sign up for the event, following on from Muttiah Muralitharan and Kumar Sangakkara (Jamaica Tallawahs), Mahela Jayawardene (Trinidad & Tobago Red Steel) and Lasith Malinga (Guyana Amazon Warriors).
Dilshan brings with him a wealth of experience with 87 Tests, 267 one-day internationals and 50 Twenty20 internationals to his name.
"He offers so much to any side he plays for, as an attacking batsman, a useful bowler and also someone who is outstanding in the field," said Harper.
"We look forward to him linking up with us ahead of Thursday's semi-final and his big-match experience will be a great asset to us."
Tillakaratne Dilshan replaces injured Guptill in Caribbean Premier League
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