The former "Gilmore Girls" star has landed a script deal to adapt her novel "Someday, Someday, Maybe" as a one-hour drama.
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Graham will write the project as well as executive produce. DeGeneres is also executive producing with Jeff Kleeman through their A Very Good Production company.
The drama will center around a young woman with six months left on her three-year plan to make a career as an actress in New York City.
The novel, Graham's first, was released this year and is based on Graham's experience on the 1990s New York acting scene. The book entered the New York Times best-seller list.
A Very Good Production is producing in association with Warner Bros. Television.