Le Vell, 47, whose real name is Michael Turner, is accused of 19 sex offences including raping a child, indecently assaulting a child and sexual activity with a child.
The actor, who plays Kevin Webster in the soap, will appear in court later this month, Greater Manchester Police said.
An ITV spokesperson has confirmed that he will not be appearing in any further episodes pending the outcome of the legal proceedings.
Le Vell was first arrested in September 2011 and questioned over alleged child sex offences, but the matter was later dropped.
On Thursday night, Greater Manchester Police said the actor - from Hale, Cheshire - had been charged with sex offences against a youngster after a review of evidence by lawyers from the Crown Prosecution Service.
Michael Turner, of Byrom Street, Hale, has been charged with 19 offences including raping a child, indecently assaulting a child and sexual activity with a child.
Greater Manchester Police spokeswoman
Alison Levitt, QC, principal legal adviser to the Director of Public Prosecutions, said she reviewed the evidence following the decision previously made not to prosecute.
Ms Levitt said: "I have very carefully reviewed the evidence in this case and I have concluded that there is sufficient evidence and it is in the public interest to charge Michael Robert Turner with a number of sexual offences.
"I have authorised Greater Manchester Police to charge Mr Turner with 19 offences, including rape of a child. Mr Turner has now been charged with criminal offences and has a right to a fair trial. As proceedings are now active, it would be inappropriate to say anything further at this stage."
Police said the charges relate to alleged offences against a child "between 2001 and 2010".
Le Vell is due to appear at Manchester Magistrates' Court on Wednesday 27 February.