The 48-year-old musician has joined the company as a senior producer for talent development and creative.
His position starts with immediate effect and he will be responsible for creating storylines for TNA's flagship TV programme 'IMPACT Wrestling' - which airs in over 120 countries.
Revealing his excitement about his new job, Billy said: "Saying I'm humbled and honoured by this opportunity to be part of TNA, a world-class wrestling organisation, is an understatement and a dream come true.
"What's great is the entire TNA organisation stands in full support of my music life with the Smashing Pumpkins. In return, I'm fully committed to using my 30 years of entertainment experience, along with my deep-rooted passion for pro wrestling, to take on the thrilling challenge of creatively contributing to 'IMPACT Wrestling', finding and developing new talent, and working eye-to-eye with the best-of-the-best. For as cultures currently evolve at great speed, so must pro wrestling meet and supersede such expectations to thrive."
TNA President Dixie Carter cannot wait for Billy to get to work on the TV show and is confident he has many ideas that can revolutionise their wrestling product.
In a statement, she said: "I've known Billy for years and have always been blown away by his musical artistry, as well as his knowledge and understanding of professional wrestling. He has always impressed me with his creativity and passion for our business. Billy is truly gifted and understands the emotion tied to the psychology of connecting with an audience. The more we talked, the more I realised his perspective has the potential to make a huge impact on our brand."
Corgan joins the creative team headed up by TNA Executive Vice President of Television and Talent John Gaburick and will attend TV tapings.
He will be working with TNA's impressive roster of wrestlers, which includes TNA World Champion Kurt Angle, Jeff Hardy and his brother Matt Hardy, MVP, Gail Kim and Bobby Roode.
Corgan has been a life-long wrestling fan and in 2011 he formed his own promotion, Resistance Pro, which puts on events around Chicago. He left the company in 2014.