Balls, who is a lifelong Norwich supporter, will be at Carrow Road for the league game against Aston Villa on Monday with his team 17th in the 20-team standings.
Balls, 48, was a Labour Member of Parliament for 10 years from 2005, holding the senior positions of Shadow Home Secretary and Shadow Chancellor of the Exchequer before his defeat in elections this year.
"My earliest ambition was to play for #NCFC - next best thing is to become Chairman. Great honour & privilege," Balls said on Twitter.
Delia Smith, the cookery writer and television presenter, is the joint majority shareholder in Norwich City.
(Reporting by Ed Osmond; editing by David Clarke)
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