The restaurant's menu features a diverse range of authentic Latin American dishes, from tortas to fajitas and xinxim to fresh salads.
The quirky decor will resemble a lively carnival atmosphere, while a wide range of coctails will be on offer.
Las Iguanas has taken up a 3,680 sq ft space on a 20-year lease.
Helen Barnett, head of communications at Bracknell Regeneration Partnership, says: “We are delighted that Las Iguanas will be bringing their unique taste of Latin American food, drink and fun to Bracknell.
“We have now let 260,000 square feet to a fabulous mix of restaurants, retailers and leisure operators and will have more announcements to make in the coming months.”
The restaurant, which was founded in 1991, boasts 35 restaurants across the UK.